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| Originally Posted by Mr. Bond Bond Magician - can you please rephrase that in layman's terms? |
In many instances, an omnibus clause or omnibus language is used in indemnity agreements to cover one or more company. A Surety company may require this specific language to be used on an indemnity agreement. The language states that all subsidiaries or affiliates that are owned by the company or are created, controlled, managed or acquired by the company are covered.