Indemnification and Assignment Agreement
Mutual Indemnification Agreement
First Choice Recovery (“FCR”) agrees to fully protect, indemnify, hold harmless, and defend the Client, including its affiliates, subsidiaries, parent companies, and their respective directors, officers, employees, agents, insurers, attorneys, successors, and assigns, from and against any and all claims, losses, demands, penalties, interest, actions, causes of action, liabilities, costs, expenses, and reasonable attorney’s fees arising out of, related to, or in connection with the services performed by FCR, or any subcontractor, assignee, or agent of FCR. This includes, but is not limited to, claims resulting from violations of any federal, state, or local laws, rules, regulations, or ordinances, or from any intentional or negligent acts, omissions, or willful misconduct by FCR or its subcontractors, agents, or employees.
Likewise, the Client agrees to fully protect, indemnify, hold harmless, and defend First Choice Recovery, including its affiliates, subsidiaries, parent companies, and their respective directors, officers, employees, agents, insurers, attorneys, successors, assigns, and approved subcontractors, from and against any and all claims, losses, demands, penalties, interest, actions, causes of action, liabilities, costs, expenses, and reasonable attorney’s fees arising out of, related to, or in connection with any violation of federal, state, or local laws, or any intentional or negligent acts, omissions, or willful misconduct of the Client or its officers, employees, or agents.
Authorization of Assignment
You are hereby authorized by the Client to act as our agent to locate, collect, or repossess the collateral described in the assignment, which is the subject of a defaulted agreement. Reassignment is not permitted unless the collateral is no longer within your service area. A detailed report of your findings and recommendations is requested upon completion of the assignment. This assignment has been sent via the American Recovery Association, Inc. directory.
This indemnification is provided in consideration of your services rendered as our agent. It is acknowledged that this agreement is executed in the State of Florida and governed by Florida law. In situations involving more than one state, the laws of both states may apply. Both parties agree to the terms outlined in this indemnification and authorize the recovery of the referenced collateral.
Payment Terms
It is agreed that all applicable fees must be paid in full prior to the release of the recovered vehicle unless prior arrangements have been expressly approved in writing.
