Re: [AGA-mcm] Invoiced and confused

[Erik Olson <erik@thekrib.com>]

I think David was bonded as treasurer.  Did a search for the term "bond" 
in the e-mail archives; Check June 2000 archives of aga-sc.  I didn't 
think it was very expensive.

Now I have no idea how that stuff is renewed or how much it cost to start. 
I would have assumed it's a yearly renewal or something.

David?

   - Erik


On Thu, 10 Aug 2006, S. Hieber wrote:

> Hi folks, in what follows I might sound cynical, but I'm just trying to 
> perform due diligience.
>
> I have an invoice for about $500 from a vendor for an insurance company. 
> David was kind enough to forward the invoice to me when he received it in the 
> mail, along with a note that it might be for "employee bond" (or perhaps the 
> word was "fund")
>
> I do remember that we discussed insurance a few times over the last few 
> years. I thought we had decided to stop purchasing the insurance because it 
> was too expensive. Otoh, perhaps I am forgetting nearly as much as I ever 
> knew about any of this.
>
> The best I could determine over the phone with a person representing the 
> party that sent the invoice, this payment would be compensation for the 
> provision of a bond but it's not clear exactly what the bond covers. Perhaps 
> a surety bond to mitigate harm to the corporation if the Treasurer (or some 
> other party or perhaps some specific named person) commits some wrongful act.
>
> I don't recall seeing a bond or insurance policy statement in my paperwork. I 
> don't recall ever ordering, or issuing a payment for, insurance or for a 
> bond. However, according to the person I spoke with representing the vendor, 
> the vendor automatically renews each year by paying the insurance company and 
> and then sending us a bill -- they said that is their policy. I advised them 
> that it is not mine and I cannot make any payment without documentation of 
> what the payment is for -- I also advised that I cannot be automatically and 
> repeatedly charged in perpetuity -- since prior notice was sent of the 
> intention to charge, we may cancel if we so wish.
>
> I'll know the specific obligations of the AGA in this regard once I see the 
> documentation.
>
> I asked them to forward me a copy of the bond or other documentation of the 
> services being provided in consideration for the invoiced payment.
>
> I will be away until about Aug 30, after which time I can take a look the 
> documentation the vendor sends me. It could be that, if this is regarding a 
> surety bond and the bond has been lost, then we could not collect on the bond 
> and payment would be imprudent. Whether a new bond is sought is another 
> discussion. Meanwhile, if anyone knows more than I do about this, feel free 
> to make recommendations.
>
>
> sh
>
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-- 
Erik Olson
erik at thekrib dot com
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