Collateral & Indemnity

[lifeisgood]

I am looking to obtain a $100k License Bond for a credit services organization and none of the owners want to personally indemnify. Can we put up 100% Collateral in lieu of personal indemnification?

[Surety Wizard]

This is something that would have to be run by the underwriters at the Surety Company. There may be some creative possibilities and that may be considered.

[Surety Queen]

Originally Posted by lifeisgood

I am looking to obtain a $100k License Bond for a credit services organization and none of the owners want to personally indemnify. Can we put up 100% Collateral in lieu of personal indemnification?

Generally the ONLY way surety will waive personal indemnity if with 100% collateral. However, it's the Surety's call when the application is submitted.