14 C.F.R. § 372 app A to Part 372
Know all persons by these presents, that we ______ (name of charter operator) of ______ (address) as Principal (hereinafter called "Principal"), and ______ (name of surety) a corporation created and existing under the laws of the State of ______ (State) as Surety (hereinafter called "Surety") are held and firmly bound unto the United States of America in the sum of ______ (see § 372.24(a) , 14 CFR part 372 ) for which payment, well and truly to be made, we bind ourselves and our heirs, executors, administrators, successors, and assigns, jointly and severally firmly by these presents.
Whereas Principal is an overseas military personnel charter operator pursuant to the provisions of part 372 of the Department's regulations and other rules and regulations of the Department relating to security for the protection of charter participants, and has elected to file with the Department of Transportation such a bond as will insure financial responsibility with respect to all monies received from charter participants for services in connection with overseas military personnel charters to be operated subject to part 372 of the Department's Special Regulations in accordance with contracts, agreements, or arrangements therefor, and
Whereas this bond is written to assure compliance by Principal as an authorized charter operator with part 372 of the Department's regulations, and other rules and regulations of the Department relating to security for the protection of charter participants, and shall inure to the benefit of any and all charter participants to whom Principal may be held legally liable for any damages herein described.
Now, therefore, the condition of this obligation is such that if Principal shall pay or cause to be paid to charter participants any sum or sums for which Principal may be held legally liable by reason of Principal's failure faithfully to perform, fulfill and carry out all contracts, agreements, and arrangements made by Principal while this bond is in effect with respect to the receipt of moneys from charter participants, and proper disbursement thereof pursuant to and in accordance with the provisions of part 372 of the Department's regulations, then this obligation shall be void, otherwise to remain in full force and effect.
The liability of Surety with respect to any charter participant shall not exceed the charter price paid by or on behalf of such participant.
The liability of Surety shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall amount in the aggregate to the penalty (face amount) of the bond, but in no event shall Surety's obligation hereunder exceed the amount of said penalty.
Surety agrees to furnish written notice to the Office of International Aviation, Department of Transportation, forthwith of all suits or claims made and judgments rendered, and payments made by Surety under this bond.
This bond shall cover the following Charters:
Surety company's bond No. _______________________________
Date of flight departure _______________________________
Place of flight departure _______________________________
This bond is effective on the ______ of ______, 20______, 12:01 a.m., standard time at the address of Principal as stated herein and as hereinafter provided. Principal or Surety may at any time terminate this bond by written notice to: U.S. Air Carrier Licensing/Special Authorities Division, Office of International Aviation, U.S. Department of Transportation, 1200 New Jersey Avenue SE, Washington, DC 20590, such termination to become effective thirty (30) days after the actual receipt of said notice by the Department. Surety shall not be liable hereunder for the payment of any damages hereinbefore described which arise as a result of any contracts, agreements, undertakings, or arrangements for the supplying of transportation and other services made by Principal after the termination of this bond as herein provided, but such termination shall not affect the liability of the bond hereunder for the payment of any damages arising as a result of contracts, agreements, or arrangements for the supplying of transportation and other services made by Principal prior to the date that such termination becomes effective. Liability of Surety under this bond shall in all events be limited only to a charter participant or charter participants who shall within sixty (60) days after the termination of the particular charter described herein give written notice of claim to the charter operator or, if it is unavailable, to Surety, and all liability on this bond shall automatically terminate sixty (60) days after the termination date of each particular charter covered by this bond except for claims made in the time provided herein.
In witness whereof, the said Principal and Surety have executed this instrument on the ______ day of ______, ______.
PRINCIPAL
Name _______________________________
By: Signature and title _______________________________
Witness _______________________________
SURETY
Name _______________________________
By: Signature and title _______________________________
Witness _______________________________
Only corporations may qualify to act as surety and they must meet the requirements set forth in § 372.24(c) of part 372.
14 C.F.R. § 372 app A to Part 372