Air Carrier-Cargo Surety Bond

AIR CARRIER-CARGO SURETY BOND (Executed in Triplicate) KNOW ALL MEN BY THESE PRESENTS, That we, _________________________________________ (Name of Air Carrier) ____________________________________ of _________________________, _____________________, as (Principal) (City) (State) Principal (hereinafter called Principal), and ______________________________________________________ (Name of Surety) ____________________________________________________, a corporation created and existing under the laws of the State of Tennessee, with principal office at _____________________________________________ (City) ________________________________________________, as Surety (hereinafter called Surety), are held and (Surety) SUPERVISION AND CONTROL OF COMMON CARRIERS BY AIR CHAPTER 1680-1-1 firmly bound unto the State of Tennessee in the sum or sums hereinafter provided for which payment. well and truly to be made, the Principal and Surety hereby bind themselves, their successors and assigns, firmly by these presents. THE CONDITION OF THIS OBLIGATION IS SUCH THAT: WHEREAS, the Principal is or intends to become a common carrier by air subject to the laws such State and the rules and regulations of the Tennessee Bureau of Aeronautics (hereinafter called Bureau), relating to insurance or other security for the protection of shippers and consignees, and has elected to file with the Bureau a bond conditioned as hereinafter set forth, and WHEREAS, this bond is written to assure compliance by the Principal as a common carrier by air with the laws of such State and the rules and regulations of the Bureau relating to insurance or other security for the protection of shippers and consignees, and shall inure to the benefit of any and all shippers or consignees to whom the Principal may be held liable for any of the damages herein described. NOW, THEREFORE, if the Principal shall make compensation to shippers and consignees for all losses of or damage to property belonging to them which shall, while this bond is in effect, come into the possession of the Principal in connection with it’s transportation service, regardless of whether such losses or damages occur while said property is in an aircraft, terminal, warehouse or other place, for which losses or damages the Principal may be held legally liable, then this obligation Shall be void, otherwise it shall remain in full force and effect. The liability of the Surety for the limits hereinafter provided shall be a continuing one notwithstanding any recovery hereunder, and extends to such losses or damages regardless of whether the aircraft, terminals, warehouses, and other facilities used in connection with the transportation service of the Principal are specifically described herein or not, and whether occurring on the route or in the territory authorized to be served by the Principal or elsewhere. The liability of the Surety for any such loss or damage shall be the limits prescribed in the laws of such State and the rules and regulations of the Bureau governing the filing of Surety bonds, which were in effect at the time this bond was executed, but not less than $3,000, and will be a continuing one notwithstanding, any recovery hereunder. This bond is effective from ____________________________(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 to the Bureau, such termination to become effective not less than thirty (30) days after actual receipt of said notice by the Bureau. The Surety shall not he liable hereunder for the payment of any of the losses or damages herein before described which arise on property coming into the possession of the Principal in connection with its transportation service after the termination of this bond as herein provided, but such termination shall not affect the liability of the Surety hereunder for the payment of any such losses or damages arising on property coming into the possession of the Principal in connection with its transportation service prior to the date such termination becomes effective. IN WITNESS WHEREOF, the said Principal and Surety have executed this instrument on the ___________________________ day of _______________________, 19 __________. _______________________________________ (Principal) (Affix Corporate Seal) By ____________________________________ _______________________________________ (Surety) _____________________, _________________ (City) (State) SUPERVISION AND CONTROL OF COMMON CARRIERS BY AIR CHAPTER 1680-1-1 By ____________________________________ Countersigned at ____________________________ THIS ______________ DAY OF ____________ 19 ____ Bond No. ________________________ _______________________________________ (Registered Resident Agent) TBA FORM D Revised 5/74