Reminder: Please Send in a GIA when Issuing a Commercial Bond
March 02, 2022
What is a General Indemnity Agreement (GIA)?
The GIA obligates the named indemnitors to protect the surety company from any loss or expense that the surety sustains as a result of having issued bonds on behalf of the bonded principal.
Why do I need a GIA?
It is important to have correctly signed and witnessed GIA on file for all issued bonds in the event there are any claims made against the principal.
Where is the GIA for a bond I issued and how do I get it signed?
When issuing a commercial bond directly from E-Surety all agents need to have the GIA (typically page 4 or 5 in the document set) signed on all signature lines indicated by a printed principal name and witnessed. No bonds should be released without a fully executed GIA.
The witness does not need to be a notary for commercial GIA’s as long as it is not a family member of the signing principal.
For more information, please contact Nicole McGee at nmcgee@www.insurorsindemnity.com or call (254) 759-3823.
