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Indemnity Bond--Lost Or Missing Document Of Title
INDEMNITY BOND--LOST OR MISSING DOCUMENT OF TITLE
We, [Name of Claimant], of [Address of Claimant], [City of Claimant], [State of Claimant], [Name of Principal], as principal, and [Surety Corporation], a corporation organized and existing under the laws of [State of Corporation], and duly licensed to transact a surety business in [State of Bond issue], as surety, acknowledge our indebtedness to [Name of Obligee], of [Address of Obligee], [City of Obligee], [State of Obligee], as obligee, as well as its successor and assigns, in consideration for the release of the goods subject to [warehouse receipt or bill of lading] no. [Bill of lading Number], in the sum of $ [Amount of Note] Dollars, in order to indemnify the obligee, its successor and assigns against all loss, damage, charges, or other expenses reasonably incurred by obligee by reason of claimants failure to return such document on surrender by obligee of the goods.
The condition of the foregoing obligation is that:
1. Obligee has received on [Date goods were received], the following described goods from claimant and has issued its original [warehouse receipt or bill of lading], no. [Original bill of lading Number], dated [Original bill of lading date], covering these goods: [Description of goods].
2. Principal has represented to obligee that:
a. The above described document which is missing is lost, stolen, or destroyed; and
b. Principal is the owner of these goods and the person entitled under this document to the delivery of the goods; and
c. Principal has requested delivery despite principals failure to produce and surrender the above described missing document covering these goods; and
d. Principal has agreed to indemnify obligee and any other person for any loss, injury, or expense arising out of principals failure to surrender the document.
3. The goods represented by the missing document, issued by obligee, bearing no. [Original bill of lading number], and dated [Original bill of lading date], have been delivered by obligee to principal without surrender of such document in the good faith belief that principal is the owner entitled to the goods and that the above described document representing such goods is lost, stolen, or destroyed.
This obligation shall be void if the above described document is found and principal delivers such document to obligee for cancellation.
This bond is executed pursuant to [Citation of local enactment of UCC 7-601], and is intended to comply with all requirements of such statute.
The premium, for which this bond is written, is $ [Amount of premium for bond] Dollars.
In witness whereof, the parties have executed this bond at [Designated place of execution] on [Date of execution].
Signature Date
Signature Date