Fidelity Guarantee Policy UIN: IRDAN108CP0034V01201819 FIDELITY GUARANTEE POLICY UIN: IRDAN108CP0034V01201819 POLICY WORDINGS Tata AIG General Insurance Co. Ltd. Registered Office: Peninsula Business Park, Tower A, 15th Floor, G.K. Marg, Lower Parel, Mumbai – 400013 24X7 Toll Free No: 1800 266 7780 Fax: 022 6693 8170 Email: [email protected] Website: www.tataaig.com IRDA of India Registration No: 108 CIN:U85110MH2000PLC128425 1 Tata AIG General Insurance Company Limited - Registered Office: Peninsula Business Park, Tower A, 15th Floor, G.K. Marg, Lower Parel, Mumbai – 400013 24X7 Toll Free No: 1800 266 7780 Fax: 022 6693 8170 Email: [email protected] Website: www.tataaig.com IRDA of India Registration No: 108 CIN:U85110MH2000PLC128425 Fidelity Guarantee Policy UIN: IRDAN108CP0034V01201819 WHEREAS the Insured (as Employer) named in the Schedule hereto in the Schedule or the amount guaranteed under any other such has by a signed proposal and declaration which proposal and Policy as aforesaid whichever is the greater. declaration together with any correspondence relative thereto signed 6. Notice in writing shall be given to the Company within seven days by or on behalf of the Insured shall be the basis of this contract and be after any act of fraud or dishonesty on the part of any of the held as incorporated herein applied to the TATA AIG GENERAL Employed or reasonable cause for suspicion thereof or any INSURANCE COMPANY LIMITED (hereinafter called the Company) improper conduct shall have come to the knowledge of the for the indemnity hereinafter contained. Insured or of any representative of the Insured to whom is IN CONSIDERATION of the payment of the First Premium and subject entrusted the duty of superintendence over any of the Employed to the terms and conditions contained herein or endorsed hereon which and no amount shall be payable under this Policy in respect of are to be deemed conditions precedent to any liability on the part of the that Employed by reason of any act committed after such Company so far as they relate to anything to be done or complied with knowledge shall have come to the Insured or his said by the Insured the Company agrees to indemnify the Insured for all representative. Within three months after such notice the Insured such Direct Financial Loss not exceeding the Amount of Guarantee as shall deliver to the Company full details of his claim and shall the Insured shall sustain by all acts of Fraud or Dishonesty committed furnish proof of the correctness of such claim. The Company shall by any of the Employed not be liable to pay more than one claim in respect of any of the (a) during the Period of Indemnity and Employed. All books of the Insured or any Accountant’s reports thereon shall be open to the inspection of the Company and the (b) during the uninterrupted continuance of employment of such Insured shall give all information and assistance to enable the Employed and Company to sue for and obtain reimbursement by any one of the (c) in connection with his occupation and discovered during the Employed or by his estate of any moneys which the Company Period of Indemnity or within six months thereafter or within six shall have paid or become liable to pay under this Policy. months after the termination of such employment whichever shall 7. Any moneys of any one of the Employed in respect of whom a happen first. claim is made in the hands of the Insured and any moneys which CONDITIONS but for any act of fraud or dishonesty committed by such one of the Employed would have been due to that Employed from the 1. The Company shall not be liable to make any payment hereunder Insured shall be deducted from the amount of the loss before a if the nature of the Business of the Insured or the duties or claim is made under this Policy. The Insured and the Company conditions of service of any of the Employed shall be changed or shall share any other recovery (excluding insurance and the remuneration of any of the Employed reduced without the reinsurance and any counter security taken by the Company) sanction of the Company or if the precautions and checks for made by either on account of any loss in the proportions that the securing accuracy of the accounts mentioned in the said proposal amount of the loss borne by each bears to the total amount of the and correspondence relative thereto shall not be duly observed. loss. 2. If this Policy shall be continued in force for more than one Period 8. In the event of an occurrence giving rise to a claim under this of Indemnity or if any liability shall exist on the part of the Policy the Insured shall immediately the same has come to his Company under this Policy and also under any other Policy in knowledge give notice thereof to the police and take all practicable respect of fraud or dishonesty of the Employed the liability of the steps towards the discovery and punishment of any guilty person Company hereunder shall not be accumulated or increased and to trace and recover the property. thereby but the aggregate liability of the Company during any 9. If a claim is made under this Policy and the Company rejects such number of Periods of Indemnity and for any number of acts of claim, no suit or action of any kind against the Company for the fraud or dishonesty committed by the Employed shall not exceed recovery of such claim shall be sustained in any Court unless the Amount of Guarantee set against the name of such Employed such suit or action shall be commenced within 12 months from the in the Schedule or the amount guaranteed under any other such date of such rejection. Policy as aforesaid whichever is the greater. 10. The Company may at any time determine and cancel this Policy 3. Notice in writing shall be given to the Company within seven days either wholly or in respect of any person or persons specified in after any act of fraud or dishonesty on the part of any of the the Schedule hereof by registered letter to the Insured at his place Employed or reasonable cause for suspicion thereof or any of business last known to the Company, provided that the improper conduct shall have come to the knowledge of the Company shall in that event on demand return to the Insured a Insured or of any representative of the Insured to whom is proportionate part of the premium corresponding to the unexpired entrusted the duty of superintendence over any of the Employed term of the Policy. and no amount shall be payable under this Policy in respect of that Employed by reason of any act committed after such 11. The Insured shall if and when required by the Company but at the knowledge shall have come to the Insured or his said expense of the Company if a conviction be obtained use all representative. Within three months after such notice the Insured diligence in prosecuting any of the persons employed to conviction shall deliver to the Company full details of his claim and shall for any criminal act which he shall have committed and in furnish proof of the consequence of which a claim shall have been made under this Policy. 4. The Company shall not be liable to make any payment hereunder if the nature of the Business of the Insured or the duties or 12. If at the time of any loss arising under this Policy there be any conditions of service of any of the Employed shall be changed or other subsisting guarantee or security in respect of the acts or the remuneration of any of the Employed reduced without the defaults of the person or persons employed the Company shall sanction of the Company or if the precautions and checks for not be liable to pay or contribute more than its rateable proportion securing accuracy of the accounts mentioned in the said proposal of such loss. and correspondence relative thereto shall not be duly observed. 13. The Company shall not be bound to notice or be affected by any 5. If this Policy shall be continued in force for more than one Period notice of any trust charge or alienation relating to moneys of Indemnity or if any liability shall exist on the part of the payment under this Policy but the receipt of the Insured or his Company under this Policy and also under any other Policy in legal personal representatives shall in any event effectual respect of fraud or dishonesty of the Employed the liability of the discharge the Company. Company hereunder shall not be accumulated or increased 14. If any dispute or difference shall arise as to the quantum to be thereby but the aggregate liability of the Company during any paid under this Policy (liability being otherwise admitted) such number of Periods of Indemnity and for any number of acts of difference shall independently of all other questions be referred to fraud or dishonesty committed by the Employed shall not exceed the decision of a sole arbitrator to be appointed in writing by the the Amount of Guarantee set against the name of such Employed parties to or if they cannot agree upon a single arbitrator within 30 2 Tata AIG General Insurance Company Limited - Registered Office: Peninsula Business Park, Tower A, 15th Floor, G.K. Marg, Lower Parel, Mumbai – 400013 24X7 Toll Free No: 1800 266 7780 Fax: 022 6693 8170 Email: [email protected] Website: www.tataaig.com IRDA of India Registration No: 108 CIN:U85110MH2000PLC128425 Fidelity Guarantee Policy UIN: IRDAN108CP0034V01201819 days of any party invoking arbitration, the same shall be referred case the resolution is likely to take longer time, we will inform you of the to a panel of three arbitrators, comprising of two arbitrators, one to same through an interim reply.