Definitions for "Indemnity Agreement"
An agreement in which one party attempts to shift responsibility for economic loss or potential liability.
An agreement by which one party agrees to repay another for any loss or damage the latter may suffer.
is a written undertaking whereby the exporter agrees to reimburse the bank or surety company, which issued the bond, if they have to pay because the exporter defaulted on the contract. Exporters need to sign such an agreement for EDC's benefit before we issue Bid or Performance Security Guarantee coverage to your bank or if we use our fronting agreements.
A form protecting CSXT from duplicate claims on the same adjustment or correction.