Fill and Sign the Managing General Agency Agreement Secgov Form

AGENCY AGREEMENT THIS AGREEMENT, made and entered into this day of at , , by and between the following parties: , a corporation and managing general surety agency, , , , hereinafter called "COMPANY" and doing business as having his/her principal place of business at hereinafter called "AGENT" and the undersigned persons and entities who have executed this Agreement as Guarantors and Indemnitors hereinafter called "INDEMNITORS", whether singular or plural, masculine or feminine and whichever the context hereof requires and admits.RECITALS1. COMPANY is managing general surety agency for Surety Insurance Company, a Insurance Company with its principal place of business located in , (herein "SURETY" ). From and after such time as COMPANY's agency agreement with SURETY may be hereafter terminated, then the term SURETY shall refer to such surety insurers as COMPANY may thereafter time after time contract with.2. The Authority to be granted by COMPANY to AGENT under this Agreement to bind it as a surety company or to bind a third party surety company, for which the COMPANY is a managing general agent, on bail bond risks extends to AGENT the most significant of powers.3.COMPANY is to be compensated at ( %) of the consideration charged for the issuance of each bail bond premium due per bond, with a minimum premium of ten dollars ($10.00) due on any bond five hundred dollars or less, AGENT assumes virtually all liability on any bail bond risk written by AGENT and/or AGENT's agency or Agents Sub-Agents.4.COMPANY is relying on the underwriting skills of AGENT in the issuance of bonds.5.One or more persons may be charged with the same or similar crimes as a result of any one transaction.6. Persons accused and charged in the legal process for crimes for which bail bonds may be issued by AGENT may be charged with more than one crime and in more than one jurisdiction.7. AGENT 's authority to issue bail bonds in the instances enumerated in Recitals 5 & 6 shall be expressly limited to instances where the specific and timely authority of COMPANY has been given.NOW, THEREFORE, in consideration of the mutual and reciprocal promises, covenants and agreements herein contained, and for other good and valuable considerations, the receipt and sufficiency whereof is specifically acknowledged by each of the undersigned, each of the parties hereto acknowledges and agrees as follows: 8.Certain surety companies have heretofore contracted with COMPANY, a duly qualified and operating managing general surety agency, with respect to the business of writing surety bail bonds to be posted within the State of and pursuant thereto COMPANY has authority t solicit, approve, execute, supervise and service bail bonds for and on behalf of these surety companies. 9.AGENT holds himself out as duly licensed, qualified and able to perform under this AGREEMENT and is experienced in the bail bond business.10.Subject to the restrictions and provisions of the laws of the State of upon AGENT, COMPANY hereby appoints the said undersigned agent, granting unto AGENT the authority and charging AGENT with the responsibilities, which AGENT accepts, as follows: A. To secure and submit application for all classes of bail bonds to be posted only within the State of .B. To issue and deliver bail bonds, certificates, and endorsements which COMPANY may from time to time authorize to be so issued and delivered.C. To exercise such care, judgment and diligence, and to maintain such control and supervision of bonded persons as shall be required for sound and profitable operation of such business and to avoid loss to COMPANY or its surety companies.D. To maintain such documents and records and deliver them to COMPANY as may be required by COMPANY , and to provide a complete report and accounting of all risks assumed and bail bonds written to COMPANY at the times and in the manner which COMPANY shall require, which requirements shall be stated to AGENT in writing and shall be subject to change from time to time.E. When and where legally permissible, to cancel such bonds as may appear in the judgment and discretion of AGENT or COMPANY or any applicable surety to be insecure or in jeopardy.F. To retain a portion of the premiums collected and due to COMPANY in accordance therewith, as full compensation on and for business placed with COMPANY by, through, or with AGENT , as commissions at the rate and in the amounts set forth in Paragraph 30 hereof. 11. All premiums due COMPANY shall be due and payable at the time of execution of any bail bond, and it shall be a breach of this Agreement, and said premium shall be past due unless remitted directly to COMPANY immediately upon receipt by AGENT of statement therefore from COMPANY. 12. COMPANY reserves the right to cancel, where lawful, directly and unilaterally any bail bond at any time as COMPANY should in its sole discretion determine, but in the event of any such cancellation, AGENT shall be notified at or before the time that notice of such cancellation shall have been given to the person for whom the bail bond was undertaken.13. In the event that COMPANY shall, either during the continuance of this Agreement or after its termination refund any premium or portion thereof paid on account of any bail bond written, whether by reason of cancellation or otherwise, AGENT shall immediately remit to COMPANY the commission retained by him on account of such premium.14. AGENT is and shall at all times material hereto, continue to be an independent agent and contractor, and is not and shall not be an employee of the COMPANY , and accordingly AGENT is master of his own time and efforts and shall bear his own costs and expenses, including, but not limited to, expenses for office space, transportation, employee's salaries, postage, insurance, attorney's fees, taxes, advertising, telephone service, telegrams, express charges, license fees, and any and all other expenses whatsoever.15. Any and all bond forms, powers of attorney, surety seals, and other supplies and equipment furnished by COMPANY to AGENT shall be and remain the property of the providing party and shall be accounted for and returned by AGENT to COMPANY, upon demand. In the event all powers of attorney should be lost, stolen or otherwise unaccounted for by AGENT, AGENT shall immediately report the same to COMPANY, and shall, unless otherwise authorized or directed, immediately make full premium, remittances for the same, less applicable commission, based upon the maximum denominations thereof.16. The corporate seals of COMPANY and any applicable surety insurer shall be used solely for the execution of bail bonds written by, through, or with AGENT.17. AGENT and each INDEMNITOR shall indemnify and hold and save COMPANY and any applicable surety insurer harmless from and against all losses, and to have and maintain at all times sufficient unencumbered assets of his own to so save COMPANY and any applicable surety insurer harmless of and from all losses incurred. AGENT and each INDEMNITOR hereof shall furnish to COMPANY, a financial statement in the form required by COMPANY on or before the execution of this AGREEMENT, and thereafter from time to time as may be required by COMPANY , provided only that no such financial statement shall be required on a regular basis more frequently than semi-annually.18. Notwithstanding any provisions of law, use, custom or practice to the contrary, for the purposes of this Agreement, the terms "loss" and "losses" as to COMPANY and any surety insurer shall include potential losses, and shall instantly be created and exist at the time when any person who is at liberty under a bail bond written by, through, or with AGENT shall fail to appear as scheduled or announced, ordered, or recorded, and regardless of whether any judgment thereupon is rendered. AGENT shall use his best efforts to avoid any and all estreatures or forfeitures and shall in all instances pay from his own resources the penal sum of bail bonds issued and estreated in accordance with Florida Statutes so that no judgment is entered against COMPANY or any applicable surety insurer. 19. No stay, supersede's, or appeal of any such estreature, forfeiture, or judgment shall in any way affect the duty of AGENT and INDEMNITORS to immediately save COMPANY and any applicable surety insurer harmless of each such bonds subject to forfeiture, together with any and all costs of protecting such bond, including, but not limited to Court costs, attorney's fees (whether incurred in a court of original jurisdiction or on appeal) and costs of any appeal bonds.20. In order to further protect and insure COMPANY and SURETY against any loss or expenses as defined herein, a reserve account (commonly known as a "build up fund" and hereinafter called "BUF"), shall be established and maintained with funds of AGENT. BUF shall be opened, maintained, operated, and exist under the following terms and conditions: A. At the time each bail bonds undertaking is executed, AGENT shall reserve a sum equal to ( %) of the premium charged by agents upon such undertaking, and such reserve shall be due and payable upon receipt of the statement from the COMPANY;B. Said remitted funds shall be deposited in an account with a bank or other financial institution selected by the COMPANY, and shall draw interest at the prevailing rate for a regular savings account and/or a money market account; The COMPANY may maintain a portion of or all remitted funds in a BUF as required by any applicable surety insurer.C. The records of BUF shall indicate that the source of funds on deposit is AGENT's, but shall be in the name of COMPANY or any applicable surety insurer and shall not be drawable by AGENT .D. BUF shall be immediately drawable by any applicable surety insurer at the time and in the amount of any losses as defined herein, but SURETY INSURER shall have no duty to make immediate withdrawal;E. COMPANY shall provide a copy to AGENT of the quarterly statement received from any such bank or financial institution within ten (10) days after receipt of same;F. Regardless of the total amount of outstanding liabilities, BUF shall never be reduced below % of outstanding liability. COMPANY shall provide the AGENT a notice of any withdrawal from BUF made on account of any losses within ten (10) days. AGENT upon receipt of such notice shall immediately reimburse the BUF in the event the withdrawal reduces the BUF below the required limits; andG. Upon the termination of this Agreement and the satisfaction of all liabilities of COMPANY and any applicable surety insurer arising from any undertakings created by, through or in conjunction with AGENT, any authorized subagents, employees or cooperating Agents, the amount of the balance of BUF, together with accrued interest earned, shall be paid to Agent, together with a statement thereof within thirty (30) days. 21. Without the expressed written approval from the COMPANY , AGENT shall act only and solely for COMPANY at all times during the term of this Agreement and shall neither issue nor cause to be issued bail bonds for the account of any other general agency or surety company whatsoever.22. INDEMNITORS are executing this Agreement as an inducement to COMPANY and without which COMPANY would not have entered into this Agreement. The liability of INDEMNITORS shall be joint and several with AGENT and immediate and not contingent upon the pursuit by COMPANY of its remedies against AGENT.23. AGENT shall not execute any bail bond undertaking, or cooperate with any other person or entity in the execution, delivery or posting of any bail bond undertaking, or otherwise create any liability against COMPANY or any applicable surety: A. For and on behalf of any one individual or entity (individual defendant) regardless of the number of crimes with which any such individual or entity has been accused, or geographical areas or judicial circuits in which such undertakings might or could be posted which would create a potential total liability amount in excess of the balance in BUF;B. For and on behalf of one or more individuals or entities charged with a crime or crimes as a result of any one transaction in which such undertakings might or could be posted which would create a potential liability amount in excess of the balance in BUF; provided, however, that COMPANY may approve such bail bond undertaking or undertakings for one person or entity after being fully advised in the premises by AGENT, but no such approval shall be effective unless in writing and given in advance of the execution of the undertaking. 24. A) The premiums charged for all bail bond undertakings are due and payable in advance of the issuance of such undertakings. Any extension of credit by AGENT, or any of his authorized subagents, employees, or cooperating agents, brokers, or other entities, shall be at AGENT's own risk and expense. B) The parties recognize and acknowledge that in the underwriting process required of AGENT in the issuance of bail bonds, and as an adjunct of sound credit extension, AGENT may from time to time secure for his own benefit, collateral to guarantee the appearance of the bonded party in the form of cash, other intangible property, or a combination of any of the foregoing.C) This collateral shall be held in trust for the benefits of AGENT, COMPANY and SURETY who shall, however, at the request of COMPANY or any applicable surety, give an accounting of any such collateral to COMPANY or surety.D) Should COMPANY or surety, in its sole and exclusive judgment, deem it to be in the best interest of the bonded party or any of the parties hereto, then AGENT, upon written demand by COMPANY, shall deliver any and all collateral held by or for the AGENT's benefit to COMPANY or designated surety insurer. It is specifically understood that, unless the collateral referred to above is actually transferred to the custody of the surety insurer or COMPANY, neither the surety insurer nor the COMPANY shall have any liability or responsibilities to anyone concerning the safekeeping or return of the collateral and the AGENT assumes full responsibility for the collateral. 25. In the event of the termination of this Agreement, after AGENT has promptly accounted for and paid to the COMPANY all of his or its obligations hereunder, the books and records of AGENT , and the use, possession, and control of the instruments commonly called "Discharges" shall remain his or its personal property and shall be left in his undisturbed possession unless records are requested by the COMPANY.26. AGENT or COMPANY may give written notice at any time, with or without cause, of his or its desire to terminate this Agreement. Upon such notice, AGENT's right and duty to solicit and execute bail bonds hereunder shall immediately cease and terminate. All other rights and duties of each party hereto shall continue thereafter until final determination and satisfaction of the entire subject matter of this Agreement, including any and all bonds executed hereunder prior to such notice, and thereupon this Agreement shall be finally terminated.27. COMPANY may from time to time, assign any and all of its rights and obligations hereunder, and may substitute, join, or contract with any other surety or sureties with respect to any bail bond undertaking, and may itself underwrite as surety any undertaking, as permitted by law, and may insure such undertaking, as the COMPANY may determine in its sole discretion. This Agreement shall not be assignable by AGENT.28. The liability of AGENT and each of his undersigned INDEMNITORS shall be joint and several.29. Any written notice required hereunder or given pursuant to this Agreement from AGENT to COMPANY shall be in writing by prepaid, United States, Certified Mail, and addressed as follows ( ) Any written notice required hereunder or given pursuant to this Agreement from COMPANY to AGENT shall be simultaneously sent to each INDEMNITOR in writing by prepaid, United States Mail, at the addresses hereinafter contained below the signatures of AGENTS and INDEMNITORS.Each party shall immediately advise each and every other party of any change of address in writing. Unless such advice is timely given, any notice sent to the last address supplied shall be conclusively deemed to have been received. 30. AGENT's commission as provided for herein in Paragraph (3) shall be ( %) of each Premium charged and due in consideration for the execution and issuance of each bail undertaking. The amount of premium to be charged for bail bond undertakings shall be determined in accordance with the laws of the . Transfer Bonds shall continue to be paid at Twenty Percent.31. This Agreement contains the entire agreement of the parties, and no undertakings, representations, inducements, promises, or agreements, oral or otherwise, between the parties not embodied herein shall be of any force or effect, and this Agreement may not be changed except by a written document signed by each of the parties hereto. No failure of COMPANY to exercise any right or power given to COMPANY hereunder, and no custom or practice of the parties at variance with the terms hereof shall constitute a waiver of COMPANY 's right to have and demand exact compliance with the terms hereof.32. The waiver by any party of any breach of any of the terms and conditions hereof shall not be construed as a waiver of the subsequent performance by any party of the same or any other obligation hereunder.33. AGENT and each INDEMNITOR hereby waives any and all defenses against COMPANY and any applicable surety insurer, now or hereafter available at law and equity, including, but not limited to, such defenses as may arise under the law of contract, tort, guarantee, suretyship, indemnification, insurance, or otherwise; provided, however, that said waiver of defense shall not be construed as a waiver of the performance of any duty expressly stated or implied in this Agreement.34. In the event of default or failure of performance by the AGENT, his subagents, or employees, if any, COMPANY shall have no duty to exercise any of its rights hereunder concerning the BUF or to undertake, exercise or exhaust any remedies at law of equity against AGENT as a condition precedent to the liability of AGENT and the simultaneous liability of each of the undersigned INDEMNITORS. All rights, powers, and privileges conferred herein upon COMPANY shall be cumulative and supplemental each to the other and to those and to those given by law.35. AGENT and each INDEMNITOR hereby agrees to pay all costs, including reasonable attorney's fees, incurred by COMPANY and any applicable surety insurer in connection with the enforcement of any provisions of this Agreement, whether or not suit be brought and whether or not such costs are incurred as a result brought in the original jurisdiction or on appeal.36. Each paragraph, provision, sentence, and part thereof, of this Agreement shall be deemed separate from each other paragraph, provision, sentence, or part thereof, and the unenforceability of any such paragraph, provision, sentence, or part thereof shall not affect the balance of this Agreement. Singular and masculine pronouns shall include plural, feminine, and artificial persons and entities whenever the context permits. 37. Time and specific performances are the essence of this Agreement and each provision thereof.38. This Agreement shall be binding upon the successors, personal representatives and heirs of AGENT and each INDEMNITOR .39. For purposes of this Agreement, the parties hereto agree that this contract shall be deemed a contract and that venue shall be fixed in County, for any disputes or litigation arising hereunder and all interpretations hereof shall be determined by the Laws of .40. Agent understands that COMPANY has contracted with SURETY INSURERS; Agent agrees to do any act or sign any document which may be required of it by virtue of COMPANY's contract with SURETY.41. Miscellaneous Provisions; A.) Agent shall initially deposit Thousand Dollars ($ ,000.00) into Manufacturers Bank of as an additional Build Up Fund Account.B.) Agent shall pay an additional Percent (10%) of the premium charged to be deposited into Bank as an additional Build Up Fund Account. Agent understands that the Build Up Fund Account required by paragraph 41-A is in addition to the Build Up Fund required pursuant to paragraph 20-A thereof. Agent has the option to reduce his Build Up Fund account to ( %) when his Build Up Fund reaches Thousand Dollars ($ ,000.00). ALL FEDERAL BONDS MUST BE APPROVED BY THE COMPANY PRIOR TO EXECUTION REGARDLESS OF THE PENAL SUM. IN WITNESS WHEREOF the parties have executed this agreement the day and year first above written. SURETY, INC.By: _________________________________ , President _____________________________Attest: __________________________________Witness By: _________________________________ , Vice President _____________________________Attest: __________________________________ Witness By: ____________________________________ Secretary, Treasurer_____________________________Attest: __________________________________STATE OF COUNTY OF BEFORE ME, an officer duly authorized to administer oaths and take acknowledgments, appeared who are personally known to me who produced a driver's license (check appropriate one), and who executed the foregoing instrument freely and voluntarily for the purposes stated therein. IN WITNESS WHEREOF, I have hereunto set my hand and official seal this day of , 20 . ________________________________Notary PublicMy Commission Expires: ________________________________________________ d/b/a _________________________________ ____________________________________Witness_____________________________________________________________________WitnessAgent - _________________________________Witness________________________________ Indemnitor - _________________________________Witness________________________________ Indemnitor - STATE OF COUNTY OF BEFORE ME, an officer duly authorized to administer oaths and take acknowledgments, appeared who are personally known to me / who produced a driver's license (circle appropriate one), and who executed the foregoing instrument freely and voluntarily for the purposes stated therein.IN WITNESS WHEREOF, I have hereunto set my hand and official seal this day of , 20 . ____________________________________Notary PublicMy Commission Expires: ____________