WHAT IS A COUNTER INDEMNITY AGREEMENT?
A deposit bond arranged through Money Street will be issued by DEPOSIT ACCESS to the vendor on the basis that you will pay the vendor the bond amount on the settlement date of the contract. The vendor can claim the amount specified in the bond from DEPOSIT ACCESS, and request that it be paid to the deposit holder. The Counter Indemnity Agreement you complete and sign in the application form gives DEPOSIT ACCESS the right to recover this amount from you should you default.
