General Indemnity Agreement printable pdf download

AMERICAN ALTERNATIVE INSURANCE CORPORATION

SCHAUMBURG, IL 60173

INSTRUCTIONS TO INDEMNITOR(S):

Each party providing their agreement of indemnity must initial each page of this document.

The date this document is executed must be noted on page 3.

Indemnitor(s) must sign this document in the appropriate section(s) on page(s) 3-5.

Each signature must be witnessed AND acknowledged by a Notary in the appropriate sections.

Please return this completed document to your Customs broker, or to your local Roanoke Office.

GENERAL INDEMNITY AGREEMENT

KNOW ALL BY THESE PRESENTS, that the undersigned, hereinafter called Indemnitors, have requested and do hereby request

AMERICAN ALTERNATIVE INSURANCE CORPORATION, and/or any and all existing and/or future affiliates, subsidiaries, divisions,

successors, assigns, sureties, co-sureties, and/or reinsurers of said entities, hereinafter referred to as Surety, to execute or procure the

execution of such bonds, undertakings or recognizances (all of which are hereinafter included within the term “bond or bonds”) as have

been and as may hereafter be applied for directly or through an agent, attorney or other representative, solely or as co-adventurer with

others, by any of the Indemnitors, or by any person, firm, corporation or association whose name shall, for that purpose, have been

furnished to the Surety by any of the Indemnitors, it being understood and agreed that this instrument shall cover all bonds so applied

for and executed, whether or not this instrument is referred to or mentioned in connection therewith;

NOW, THEREFORE, in consideration of the premises and of the execution or continuance of such bonds, the Indemnitors for

themselves, their heirs, executors, administrators, successors and assigns, do hereby jointly and severally, covenant and agree with

the Surety, its successors and assigns, as follows:

1. The Indemnitors will pay, when due, all premiums for each of such bonds in accordance with the Surety’s regular manual rates in

effect on the date such bond becomes effective, as long as liability thereunder shall continue, and until the Surety is furnished with

evidence satisfactory to the Surety of its discharge or release from the bonds, or of all liability by reason thereof.

2. The Indemnitors will exonerate, hold harmless, and indemnify the Surety from and against any and all liability, loss, costs,

damages, fees of attorneys and consultants, and other expenses, including interest, which the Surety may sustain or incur by reason of,

or in consequence of, the execution of such bonds and any renewal, continuation or successor thereof, including but not limited to,

sums paid or liabilities incurred in settlement of, and expenses paid or incurred in connection with claims, suits, or judgments under

such bonds, expenses paid or incurred in enforcing the terms hereof, in procuring or attempting to procure a release from liability, or in

recovering or attempting to recover losses or expenses paid or incurred, as aforesaid.

3. If the Surety receives any claim or lawsuit asserting liability, or sets up a reserve to cover any liability, claim asserted, suit or

judgment under any such bond, the Indemnitors will, immediately upon demand, and whether or not the Surety shall have made any

payment therefore, deposit with the Surety a sum of money equal to such claim or reserve and any increase thereof as collateral

security on such bond, and such sum and any other money or property which shall have been or shall hereafter be pledged as

collateral security on any such bond, shall be available, in the discretion of the Surety, as collateral security on all bonds coming within

the scope of this instrument, or for any other indebtedness of the Indemnitors to the Surety; and any such collateral security shall be

held subject to the terms of the Surety’s regular form of receipt for collateral, which is by reference made a part hereof.

4. The Surety may, at its option, file or record this Agreement, or any other document executed by any or all of the Indemnitors,

individually or jointly, in connection with the application, issuance or execution of any bond or bonds, as a security agreement, as part of

a financing statement or as notice of its prior interest and assignment under the provisions of the Uniform Commercial Code or any

other statute or regulation of any jurisdiction or agency, but that the filing or recording of such document shall be solely at the option of

the Surety, and that the failure to do so shall not release or impair any of the obligations of the Indemnitors under this Agreement.

5. The Surety shall have the exclusive right to decide and determine whether any claim, liability, suit or judgment made or brought

against the Surety or the Indemnitors, or any one of them, on any such bond shall or shall not be paid, compromised, resisted,

defended, tried or appealed, and the Surety’s decision thereon, if made in good faith, shall be final and binding upon the In demnitors.

The Surety shall have no obligation to tender its defense to any Indemnitor. If the Surety elects not to tender its defense to any

Indemnitor, the Indemnitors shall nevertheless remain liable to the Surety for any and all loss, costs, damages, interest, and expenses,

including but not limited to attorneys’ fees and consultants’ fees resulting from the Surety’s investigation and/or defense. An itemized

statement of payments made by the Surety for any of the purposes specified herein, sworn to by an officer of the Surety, or the voucher

or vouchers for such payments, shall be prima facie evidence of the liability of the Indemnitors to reimburse the Surety for such

payments, with interest.

6. The Indemnitors hereby authorize the Surety in its sole discretion to do the following: (a) from time to time make or consent to

any change in, or issue any substitute for or renewal of, any such bond, and this instrument shall apply to such substituted or changed

bond or renewal; (b) if any such bond be given in an action or proceeding in any court, to recognize any attorney of record in such

action or proceeding for any party thereto at the date of the execution of such bond as the authorized representative of such party until

the Surety shall have been fully discharged from liability under such bond; (c) take such steps as the Surety may deem necessary or

proper to obtain a release from liability from any such bond.

Page 1 of 7, all indemnitors must initial

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ISrev2014

General Indemnity Agreement

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