Welcome!   AGENT LOGIN
Banner

DECLARATION AND UNDERTAKING

I / We hereby declare that the answers and statements given above are true and complete, and that I / We have not withheld any material information.

This Proposal and any Guarantee issued pursuant to this Proposal shall be subject to the Counter-Indemnity set forth below to which terms and conditions I / We agree.

In consideration of ERGO Insurance Pte. Ltd (“the Insurer”) of 302 Orchard Road #09-01 Singapore 238862 agreeing at my/our request to issue a Insurance Bond (“The Bond”) in favour of the Philippine Overseas Labour Office (“P.O.L.O.”) guaranteeing the payment on demand of any sums not exceeding in total Singapore Dollars Two Thousand (S$2,000) / Singapore Dollars Seven Thousand (S$7,000), I / We hereby jointly and severally irrevocably and unconditionally agree and undertake for myself / ourselves and my /our heirs executors administrators assigns and successors that:


1. As a continuing obligation I / We shall indemnify and keep indemnified the Insurer from and against all claims, demands, payments, actions, suits, proceedings, losses, expenses including legal costs on an indemnity basis and all other liabilities of whatsoever nature or description which may be or taken against or incurred by the Insurer in relation to or arising out of the Bond and / or this Counter-Indemnity.

2. Where any request is made upon the Insurer by P.O.L.O. for payment of any sum of money pursuant to the Bond, (“such request”) the Insurer shall at its absolute discretion be at liberty to contest or compromise or immediately pay upon such request and such request shall be sufficient authority to the Insurer for making any payment thereon without requiring or obtaining any evidence or proof that the amount so claimed or requested is due payable to P.O.L.O. and without any notice or reference to or further authority from me / us notwithstanding that I / We may dispute the validity at any such claim or request.

3. I / We shall not at any time question or challenge the validity legality or otherwise of any payment made by the Insurer to P.O.L.O. pursuant to such request or deny any liability under this Counter-Indemnity on the ground that such payment or any part thereof made by the Insurer was not due or payable under the Bond or on any other ground whatsoever.

4. I / We shall not be discharged or released from the Indemnity by any compromise, variation or arrangement made between P.O.L.O. and the Insurer in relation to the obligation undertaken by the Insurer under the Bond or by any forbearance whether as to payment, time, performance or otherwise given by P.O.L.O. to the Insurer.

5. My / Our liability herein is irrevocable and shall remain in full force and effect until the Insurer’s liability under the Bond is fully discharged to the Insurer’s satisfaction.

6. This indemnity shall be governed by and construed in accordance with the laws of Singapore.

 

Authorized Agent of:

 

Login