INDEMNITY BOND
LOST OR MISSING DOCUMENT OF TITLE
WAREHOUSE RECEIPT
We, _________________________________________
(claimant), of __________ _________________________________________ (address),
________________ (city), ______________ (county), __________ (state), as
principal, and __________ (surety), a corporation organized and existing under
the laws of __________ (state), and duly licensed to transact a surety business
in __________ (state), as surety, acknowledge our indebtedness to __________
(obligee), of ____________________ ______________ (address), ____________
(city), __________ (county), _________ (state), as obligee, as well as its
successor and assigns, in consideration for the release of the goods subject to
__________ (warehouse receipt) number __________, in the sum of __________
Dollars ($__________), in order to indemnify the obligee, its successor and
assigns against all loss, damage, charges, or other expenses reasonably
incurred by obligee by reason of claimants failure to return such document on
surrender by obligee of the goods.
The condition of the foregoing obligation is that:
1.
Obligee has received on ________________ (month
& day), ______ (year), the following described goods from claimant and has
issued its original __________ (warehouse receipt), number __________, dated
__________ (month & day), ______ (year), covering these goods: __________________________________________________
(describe goods).
2.
Principal has represented to obligee that:
a. The
above described document which is missing is lost, stolen, or destroyed; and
b.
Principal is the owner of these goods and the person entitled under this
document to the delivery of the goods; and
c. Principal
has requested delivery despite principals failure to produce and surrender the
above described missing document covering these goods; and
d.
Principal has agreed to indemnify obligee and any other person for any
loss, injury, or expense arising out of principals failure to surrender the
document.
3. The
goods represented by the missing document, issued by obligee, bearing number
__________, and dated ___________ (month & day), _______ (year), have been
delivered by obligee to principal without surrender of such document in the
good faith belief that principal is the owner entitled to the goods and that
the above described document representing such goods is lost, stolen, or
destroyed.
This obligation shall be void if the above described
document is found and principal delivers such document to obligee for
cancellation.
This bond is executed pursuant to
________________________ (cite local enactment of UCC § 7-601), and is intended
to comply with all requirements of such statute.
The premium, for which this bond is written, is
___________ Dollars ($__________).
In witness whereof, the parties have executed this
bond at __________ (designate place of execution) on __________ (month &
day), ______ (year).
_____________________________________________ ___________________
(Signature)
(Date)
_____________________________________________ ___________________
(Signature) (Date)
