Form Fmc-132a To Subpart A Of Part 540 Passenger Vessel Surety Bond (Performance) (Page 2 of 2) in pdf

Form Fmc-132a To Subpart A Of Part 540 Passenger Vessel Surety Bond (Performance) Page 2

This bond is effective the ________ day of _____________, 20___, 12:01 a.m.,

standard time at the address of the Principal as stated herein and shall continue in force

until terminated as hereinafter provided. The Principal or the Surety may at any time

terminate this bond by written notice sent by certified mail, courier service, or other

electronic means such as email and fax to the other and to the Federal Maritime

Commission at its office in Washington, D.C., such termination to become effective

thirty (30) days after actual receipt of said notice by the Commission, except that no

such termination shall become effective while a voyage is in progress. The Surety shall

not be liable hereunder for any refunds due under ticket contracts made by the Principal

for the supplying of transportation and other services after the termination of this bond

as herein provided, but such termination shall not affect the liability of the Surety

hereunder for refunds arising from ticket contracts made by the Principal for the

supplying of transportation and other services prior to the date such termination

becomes effective.

The underwriting Surety will promptly notify the Director, Bureau of Certification and

Licensing, Federal Maritime Commission, Washington, DC 20573, of any claim(s) or

disbursements against this bond.

In witness whereof, the said Principal and Surety have executed this instrument on

________ day of _____________, 20___.

PRINCIPAL

Name________________________________________________________________

By___________________________________________________________________

(Signature and title)

Witness_______________________________________________________________

SURETY

[SEAL]

Name________________________________________________________________

By___________________________________________________________________

(Signature and title)

Witness_______________________________________________________________

Only corporations or associations of individual insurers may qualify to act as surety, and

they must establish to the satisfaction of the Federal Maritime Commission legal

authority to assume the obligations of surety and financial ability to discharge them.

Form Fmc-132a To Subpart A Of Part 540 Passenger Vessel Surety Bond (Performance) Page 2