Date: [Insert Date] Indemnity Insurance Policy Policy No.: BBVA-360000-2024-ABC562 Policy Holder: BBVA México Beneficiary: Kathleen Conrad Address: McLeod Avenue, Spruce Grove, AB, Canada Indemnified Amount: USD 360,000.00 Preamble: This Indemnity Insurance Policy (hereinafter referred to as the "Policy") is issued by BBVA México, S.A., a financial institution licensed to operate in Mexico. The Policy provides financial protection to Kathleen Conrad (the "Beneficiary") against specific losses incurred due to errors, omissions, or negligence arising during the execution of a wire transfer valued at USD 360,000.00. BBVA México agrees to indemnify the Beneficiary, subject to the terms and conditions outlined herein. Covered Risks: 1. Negligent Acts or Errors Coverage for losses directly resulting from negligence, mistakes, or omissions by BBVA México during the processing of the wire transfer. 2. Fraud and Unauthorized Transactions Protection against financial loss caused by fraudulent or unauthorized actions that compromise the wire transfer. 3. System Failures Indemnification for losses caused by unforeseen technical errors or system malfunctions that impact the execution of the wire transfer. 4. Incorrect Transfer Execution Coverage for situations where funds are transferred to the wrong account or under incorrect instructions due to BBVA México's error. 5. Delayed Payment Compensation for financial losses incurred due to significant delays in executing the wire transfer attributable to BBVA México. Exclusions: This policy does not cover: Losses arising from incorrect or incomplete instructions provided by the Beneficiary. Acts of God or force majeure events such as natural disasters, war, or terrorism. Transactions involving sanctioned countries, individuals, or entities. Losses resulting from the Beneficiary’s own negligence or misconduct. Financial loss arising from circumstances not directly attributable to BBVA México's actions or systems. Claims Procedure: 1. Notification: The Beneficiary must notify BBVA México of any covered incident within 48 hours of discovery. 2. Documentation: The Beneficiary must provide supporting evidence, including transaction details, proof of loss, and any relevant correspondence. 3. Investigation: BBVA México will conduct a thorough investigation to determine the validity of the claim. 4. Resolution: Upon verification, BBVA México will indemnify the Beneficiary for the covered loss, subject to the policy terms and the indemnified amount. Policy Terms: 1. Maximum Coverage: The maximum indemnity under this policy is USD 360,000.00, which represents the total value of the insured wire transfer. 2. Deductible: Claims are subject to a deductible of USD $9,800.00, payable by (Kathleen Conrad ) before indemnification. 3. Cooperation: The Beneficiary must cooperate with BBVA México’s investigation and recovery efforts if applicable. Governing Law: This policy is governed by the laws of Mexico, and any disputes arising hereunder shall be resolved exclusively by the courts of Mexico City. Signatures: Policyholder’s Signature: _____________________ Date: _______________________ BBVA México Representative’s Signature: _______________________ Date: _______________________
