Fidelity Bond and Errors and Omissions Coverage Clause Samples

Fidelity Bond and Errors and Omissions Coverage. Broker/Dealer represents that all of its directors, officers, employees and Registered Representatives are and shall be continuously covered by a blanket fidelity bond covering for larceny and embezzlement and issued by a reputable bonding company. This bond shall be maintained at Broker/Dealer's expense and shall be at least of the form, type and amount required under the NASD Conduct Rules. Broker/Dealer and Selling Entities represent that its agents are covered by Errors and Omissions insurance.

Fidelity Bond and Errors and Omissions Coverage. 1. EPSI is required to purchase a Blanket Fidelity Bond in its own name in an amount of at least $1,000,000,000 The Bond will state that: a. loss, if any, involving money or other property belonging to Brokers will be payable to Brokers as its interest may appear; and b. if the Bond is canceled, Brokers will be notified 30 days prior to such cancellation. EPSI, upon request, will provide a copy of the Bond to Brokers. 2. EPSI is required to purchase and to maintain Liability Insurance in any amount not less than $1,000,000 per individual claim and $1,000,000 in the aggregate to provide insurance coverage for liability related to or arising out of EPSI’s errors or omissions in the performance of its duties under this Agreement. EPSI will provide Brokers with evidence of such coverage, upon request, and will notify brokers of any material change or cancellation of such coverage 30 days prior to such change or cancellation.

Fidelity Bond and Errors and Omissions Coverage. On the Closing Date and for the term hereof, the Servicer shall, at its own expense, maintain and keep in full force and effect (i) fidelity insurance (ii) theft of document insurance and (iii) forgery insurance.

Fidelity Bond and Errors and Omissions Coverage