Indemnity Agreement / Limited Power of Attorney promotion sponsors allows Promotion Activators to execute the current and any future surety bonds faster without having to bother you for signatures.
In lieu of signing the bonds for your promotion, we ask for an Indemnity Agreement and Limited Power of Attorney.
Part One of the form will allow us to execute the current and any future bonds faster without having to bother you for signatures.
Part Two simply states that if the Sponsor fails to deliver the prizes as promised, the surety will have to fund the prizes on the Sponsor’s behalf and will seek to be made whole by the Sponsor. It obligates Sponsor to the surety company virtually the same as if Sponsor signed the bond itself. This is a normal requirement in the surety bond industry.
The form only has to be executed one time and will be good for this and all future promotions by the Sponsor in the U.S. and Canada.
The form does require a notary signature. However, we do not need the original to proceed with the bonding and registering of your promotion. Please mail the original to us at your earliest convenience.
This form must be completed before we can bond and file the current promotion registration, so please sign and fax this as quickly as possible.
We use only surety companies rated A+ or better by A.M. Best, and have developed the Indemnity Agreement to ensure that it can serve all of your future bonding needs at the lowest cost possible.
Please call if you have any questions.