INDEMNITY AND PAYMENT AGREEMENT - Read Carefully

In consideration of the execution, renewal, assumption, continuation, or reissuance of all bonds (“bond(s)”) by a surety or various sureties (“SURETY”) to the undersigned individual or entity (“Principal”), the undersigned individual(s) ("Indemnitor(s)"), for themselves, their heirs, executors and administrators, present or future, jointly and severally, and on behalf of and as the owner(s) and/or officer(s) of the bonded entity and its parents, subsidiaries, affiliates, successors, assigns and related parties as applicable, promise and agree as follows: (1) To reimburse, fully indemnify and hold SURETY harmless upon demand for every claim, suit, judgment, award, liability, fine, penalty, loss, cost, claims adjusting expense, and other charges and expenses of whatsoever kind or nature, including collection and attorneys' fees and expenses ("Loss"), which SURETY may, at any time, sustain or incur by reason or in consequence of furnishing any bond to the Principal; (2) SURETY shall have the exclusive right to determine whether or not any claim or suit shall be paid or compromised, and such determination shall be binding on the Principal and Indemnitor(s); (3) An itemized list of loss and expense incurred by SURETY shall be prima facie evidence of the Principal and Indemnitor(s)’ liability to SURETY. The Principal and Indemnitor(s) agree to deposit with SURETY, upon demand, the amount of any Loss or potential loss as determined by SURETY in its sole discretion and SURETY is hereby permitted to charge any payment method on file for such amounts; (4) SURETY shall be under no obligation to execute, renew, or continue any bond, and shall have the absolute right to cancel any bond in accordance with the cancelation provision contained therein, or to procure its release under any law for the release of sureties, and SURETY is hereby released from any damage that may be sustained by reason of such actions; (5) the place of performance of this agreement, including the promise to pay Surety, shall be in the County and State where the Surety’s principal place of business is located. That location shall also be the venue for any suit, arbitration, mediation or any other form of dispute resolution; (6) SURETY may conduct business with the Principal and Indemnitor(s) electronically and a facsimile or electronic version of this Indemnity Agreement shall be treated as an original for all purposes; (7) This agreement shall survive any changes in, substitute to or renewal of any bond(s); (8) If the monthly payment option is selected, the Principal and Indemnitor(s) are allowing SURETY to automatically charge the payment method provided on a monthly basis for the stated monthly amount until Indemnitor(s) notify SURETY to cancel a bond, which can be done at any time. Indemnitor(s) agree the monthly purchase price is subject to change at any time and the new monthly rate will be automatically charged after SURETY provides at least 30 days' notice of the change to the primary email address provided by the Indemnitor(s); (9) The bond(s) shall automatically renew when the term(s) end and payment for such renewal(s) shall be automatically charged to the provided payment method. The SURETY will send at least 30 days’ notice to the primary email address provided by the Indemnitor(s) prior to charging the payment method for the renewal. To terminate automatic payments, the Indemnitor(s) must notify the SURETY by phone or by emailing service@bondexchange.com at least three business days before your next scheduled transaction to prevent payment processing; and (10) the SURETY may send the Principal’s account to a third-party collection agency for non-payment of any residual earned premium, which will result in an adverse account report to one or more major credit bureaus.

Indemnitor(s) understand the bond(s) are a credit relationship and hereby authorize SURETY, to gather such credit, employment, DMV records, and business and personal financial information as considered necessary for and appropriate for purposes of evaluating whether and at what premium rate such credit should be granted or continued. By signing, Indemnitor(s) are providing 'written instructions' to SURETY under the Fair Credit Reporting Act authorizing SURETY to obtain information from Indemnitor(s)’ personal credit profile or other information from Experian and/or Equifax. Indemnitor(s) authorize SURETY to obtain such information Indemnitor(s) hereby declare that the statements herein are true and correct and are being relied upon by SURETY to become surety on one or more bonds applied for and any renewal, reissuance or increase thereof. It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties may include imprisonment and fines.


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