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  1. h2o
    h2o is offline Senior Member
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    Spouse's Liability

    What is my husband's liability by signing the indemnity agreement?
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  2. Bond Magician
    Bond Magician is offline Senior Member
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    Spouse's Liability

    Quote 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.
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  3. h2o
    h2o is offline Senior Member
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    Spouse's Liability

    Quote 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?
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  4. Surety Queen
    Surety Queen is offline Surety Professional
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    Wage and Welfare Bonds

    Quote 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.
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  5. Bond Magician
    Bond Magician is offline Senior Member
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    Spouse's Liability

    Quote 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?
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  6. Surety Queen
    Surety Queen is offline Surety Professional
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    Wage & Welfare Bonds

    Quote 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.
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  7. h2o
    h2o is offline Senior Member
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    Spouse's Liability

    Quote 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?
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