# Surety Bonds 101 - Indemnity and the Agreement

Source: https://a1suretybonds.com/learning-center/indemnity-agreement

- Indemnity is a written obligation expressed by the signature of the individual executing the Indemnity agreement on behalf of themselves and their Company or Companies.
- AKA
- Indemnity Agreement (IA)
- General Indemnity Agreement (GIA)
- General Agreement of Indemnity (GAI)

- Verbiage is centric to the surety in order to allow for collection efforts in the event of a paid out claim paired with failure of the indemnitor to indemnify and hold harmless the [Surety Company](http://www.a1suretybonds.com).

- Business/Corporate Indemnity
- Provides a collection avenue to the assets of the business/corporation

- Individual Indemnity & Spousal Indemnity
- Provides a collection avenue to the assets of the individual indemnitor(s)
- Spousal indemnity required in order to allow access to their sole and separate assets, any assets that they may have converted to their assets from their spouse or the company

- Waived Indemnity
- Rarely occurs, usually Individual Indemnity is waived on publically traded companies or on event where the bond is fully collateralized.

- Implied Indemnity
- Occurs when the principal receives the benefit of the bond without signing an agreement. They benefit and therefore there is an implied offsetting agreement to hold the surety harmless.

[Surety Bond Underwriting](https://a1suretybonds.com/learning-center/surety-bond-underwriting)

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Surety Bonds 101 - Indemnity and the Agreement

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A1 Surety Bonds (The Surety Syndicate, LLC), a nationwide surety bond agency · (800) 737-4880 · info@a1suretybonds.com · https://a1suretybonds.com
Requirements are set by each state or agency and can change; the obligee's current instructions and the law control.