Spouse's Liability

[h2o]

What is my husband's liability by signing the indemnity agreement?

[Bond Magician]

Originally Posted by h2o

What is my husband's liability by signing the indemnity agreement?

If you are married, when your business benefits, so does your husband. It is an industry standard that an owner's spouse must individually sign anindeminty agreement, unless a prenuptial agreement is in place.

[h2o]

Originally Posted by Bond Magician

If you are married, when your business benefits, so does your husband. It is an industry standard that an owner's spouse must individually sign anindeminty agreement, unless a prenuptial agreement is in place.

What exactly is my husband at risk of by signing this indemnity agreement?

[Surety Queen]

Originally Posted by h2o

What exactly is my husband at risk of by signing this indemnity agreement?

By signing the agreement, he is assuming the same responsibility you are in the event there is a claim on the bond. It's always a good idea to have all parties involved read the complete agreement so you know exactly what you are signing.

[Bond Magician]

Originally Posted by Surety Queen

By signing the agreement, he is assuming the same responsibility you are in the event there is a claim on the bond. It's always a good idea to have all parties involved read the complete agreement so you know exactly what you are signing.

What exactly is the responsiblity that he is assuming? What will he be responsible for if there is a claim?

[Surety Queen]

Originally Posted by Bond Magician

What exactly is the responsiblity that he is assuming? What will he be responsible for if there is a claim?

His responsibilities will be the same as his spouse - he will be responsible for reimbursing Surety for any claims that they cover. By reading the GIA he should be able to get a good understanding of his responsibilities.

[h2o]

Originally Posted by Surety Queen

His responsibilities will be the same as his spouse - he will be responsible for reimbursing Surety for any claims that they cover. By reading the GIA he should be able to get a good understanding of his responsibilities.

Would they go after me first and then my husband? Or would they go after both of us together?