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This agreement is made and entered into this 26th day of April 2017, by and between Surety Solutions, LLC, referred to as Surety Solutions, LLC, and, the user submitting this registration form, referred to as agent.
In consideration of Surety Solutions, LLC placing risks from time to time hereafter for Agent, in accordance with the mutual promises and covenants set out, it is agreed as follows:
(1) Surety Solutions, LLC promises that it will exert its best efforts to place within an insurer, or insurers, such risks as it may be called upon by Agent to place.
(2) Agent shall be primarily liable to Surety Solutions, LLC for the full amount of premiums and any applicable state taxes and fees, reduced only by the commissions due Agent thereon, with respect to all insurance policies and surety bonds issued upon each application/submission, and renewal thereof, and additional premiums resulting from audit, and any further premiums on any reporting policies or bonds. Commissions shall be as agreed on a case by case basis. Payment of such amounts shall be due from Agent within 30 days of the effective date of the transaction unless noted otherwise by Surety Solutions, LLC.
(3) In consideration of commission allowed to Agent on all premiums and additional premiums, Agent agrees to refund to the insured(s) the commission on all return premiums at the same rate such commissions were originally retained.
(4) Agent is an independent contractor and nothing herein shall be construed to create the relationship of joint venture, or employer and employee, between Surety Solutions, LLC and Agent. Agent is responsible for all expenses incurred in its operation. Agent has no authority to bind Surety Solutions, LLC or any of its principles or companies, and any agency that me be created between Surety Solutions, LLC and Agent is limited to the terms of this agreement.
(5) Surety Solutions, LLC shall rely solely on the accuracy of the representations of the Agent and will place each contract based upon the information supplied by the Agent, who shall be fully responsible for the content therein.
(6) Agent warrants that it is licensed to solicit the insurance which it requests Surety Solutions, LLC to place, and that Agent will comply in all respects with the laws of any state in which it operates. Agent further agrees to furnish Surety Solutions, LLC copies of all relevant licenses and E & O coverage upon request.
(7) Agent will hold Surety Solutions, LLC harmless for any acts or omissions, which are caused by or contributed to by Agent. Surety Solutions, LLC will likewise hold Agent harmless for any acts or omissions caused by or contributed to by Surety Solutions, LLC.
(8) Any taxes and fees applicable to any of contract of insurance placed by Surety Solutions, LLC with any insurer, which are not recoverable, are fully earned from the inception date of the bond or insurance. Further, in case a portion of the premium shall be returned by reason of cancellation either on behalf of the insured or the insurer, Agent shall remain responsible for all such taxes and fees until they have been fully recovered by Surety Solutions, LLC.
(9) The first year premium for any bond issued shall be fully earned and non-refundable upon issuance of the bond.
(10) Any and all fees are considered fully earned and non-refundable upon issuance of the bond.
(11) If any provision of this agreement shall be or become in conflict with the laws of the state then such state laws shall govern, but only to the extent of the conflict.
(12) Venue for any proceeding to enforce the terms of this agreement shall be Polk County, Oregon, and the prevailing party in any such proceeding shall be entitled to attorney fees, costs and all expenses associated with enforcement of this agreement including expert witness fees.
This agreement shall apply to current policies and bonds already in force at the effective date of this agreement and all future policies and bonds, which may be placed by Surety Solutions, LLC for Agent. This agreement may be cancelled at any time by 30 days written notice of either party, but said cancellation shall not alter in any way the continued application of this agreement to insurance policies and bonds effected prior to the date of such cancellation.