Fidelity Bond Requirement Sample Clauses
The Fidelity Bond Requirement clause mandates that certain parties, typically employees or agents handling funds or valuable assets, must be covered by a fidelity bond. This bond acts as a form of insurance that protects the employer or principal from losses caused by fraudulent or dishonest acts, such as theft or embezzlement, committed by those individuals. By requiring this coverage, the clause helps mitigate the risk of financial loss due to internal misconduct and provides assurance to stakeholders that safeguards are in place against potential employee dishonesty.
Fidelity Bond Requirement. A Servicer must maintain, at all times, at its own expense, a Fidelity Bond in an amount and with an insurer acceptable to FNMA or FHLMC and having terms that are acceptable to FNMA or FHLMC.
Fidelity Bond Requirement. The CONTRACTOR shall maintain in force a fidelity bond in the amount specified under the Insurance Code, ▇▇▇▇ ▇▇▇▇ Sections 59A-1-1, et. seq..