This form states that the guarantor unconditionally and absolutely guarantees to payee(s), jointly and severally, the full and prompt payment and performance of any and all account receivable charges by the customer incurred to the payee, including collections fees and reasonable attorneys' fees, up to a certain maximum amount.
Wyoming Accounts Receivable - Guaranty
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State:
Multi-State
Control #:
US-00401
Format:
Word;
Rich Text
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How to fill out Accounts Receivable - Guaranty?
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FAQ
All insurance companies (with some exceptions) licensed to write life and/or disability insurance in Wyoming and all health maintenance organizations licensed in Wyoming are members of the Association.
Insurance guaranty associations provide protection to insurance policyholders and beneficiaries of policies issued by an insurance company that has become insolvent and is no longer able to meet its obligations. All states, the District of Columbia, and Puerto Rico have insurance guaranty associations.
An insurance guaranty association is a state-sanctioned organization that protects policyholders and claimants in the event of an insurance company's impairment or insolvency.
Insurance companies are required by law to be members of the guaranty association in states in which they are licensed to do business. Most states have two types of guaranty associations: a life and health guaranty association and a property and casualty insurance guaranty association.
What is the difference between state guaranty associations and FDIC insurance? The FDIC is an independent federal agency that provides deposit insurance for bank deposits. State guaranty associations are nonprofit organizations that operate at the state level to protect insurance policyholders.