Business No Loss Update

Business No Loss Update

Date of Update:   Update Reference No.:

Client Name:

Reporting Party / Business Name:

Recitals

WHEREAS, the Reporting Party is engaged in the operation of its business activities and periodically provides written updates to the Client concerning claims, incidents, or other loss events affecting the Reporting Party's operations; and

WHEREAS, the Client requires a formal written certification on a recurring basis that, for a defined period, the Reporting Party has sustained no losses, claims, or incidents that would give rise to liability or material financial exposure; and

WHEREAS, the parties desire to set forth the terms under which the Reporting Party will deliver such No Loss Updates and the Client will accept and rely upon those updates.

Scope of Work

No Loss Statement

For the reporting period commencing on and ending on , the Reporting Party hereby certifies that, to the best of its knowledge after reasonable inquiry, no incidents, events, claims, lawsuits, regulatory proceedings, or other occurrences have arisen that have resulted in loss or liability that are material to the Reporting Party's business or that would reasonably be expected to give rise to a claim against the Reporting Party.

Payment Terms

Fee for Update:

Payment is due within days of invoice receipt. For recurring arrangements, payments will be invoiced .

Late Fee: Any overdue amount shall bear interest at a rate of or the maximum rate permitted by applicable law, whichever is less, plus reasonable collection costs.

Term and Termination

Term Commencement Date:

Term Expiration Date:

Either party may terminate this Agreement for convenience upon providing days' prior written notice. Termination for cause is permitted where the other party materially breaches any obligation and fails to cure within days after written notice.

Confidentiality

Each party shall maintain in confidence all information disclosed by the other party in connection with this Agreement that is identified as confidential or that reasonably should be understood to be confidential given the nature of the information. Confidential information may not be disclosed except to employees, legal counsel or advisors who have a bona fide need to know and who are bound by confidentiality obligations no less protective than those set forth herein. Confidential obligations survive termination for a period of three (3) years, except for trade secrets which shall remain protected for as long as they remain trade secrets under applicable law.

Representations and Warranties; Certification

The Reporting Party represents and warrants that it has the full power and authority to make the No Loss Statement set forth herein and that the information provided in this Update is true, accurate and complete to the best of its knowledge as of the date of this Update. The Reporting Party acknowledges that the Client may rely on this certification in business, insurance, regulatory, or contractual matters.

Governing Law

This Agreement and all disputes arising out of or related to it shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of laws principles.

Entire Agreement

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals, negotiations and understandings, whether written or oral. No amendment to this Agreement shall be effective unless in writing and signed by authorized representatives of both parties.

Notices

Execution

The parties have executed this Business No Loss Update as of the dates set forth below by their duly authorized representatives.

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