Agent Registration

This Terms and Conditions of Participation Agreement (“Agreement”) governs your access and use of the Palmetto Surety Corporation Risk Allocation Fund Electronic Ledger System (“Portal”). By electronically signing this Agreement and logging into your unique ledger account, you (“Participant”) acknowledge and agree to the following:

1. Acknowledgment of Participation
By accessing the Portal, you confirm your voluntary enrollment and active participation in the Palmetto Surety Corporation Risk Allocation Fund (“PSCRAF”), a fiduciary-managed, pooled risk fund established to manage surety-related obligations and collective risk for participating contractors and agents.

2. Nature of the Fund and Risk Disclosure
You understand and acknowledge:

- Contributions made to PSCRAF are not held in individual escrow or trust accounts.
- Funds are pooled collectively and may be used, at the sole discretion of Palmetto Surety Corporation, to satisfy the obligations of any participant in the fund.
- Participation in PSCRAF entails a shared risk model, including exposure to losses incurred by others.
- You waive any claim to segregation of your contributed funds and accept this collective liability as a condition of participation.

No Guarantee or Insurance: Funds contributed to PSCRAF are not FDIC-insured, are not guaranteed by Palmetto Surety Corporation or any affiliated entity, and may be subject to loss.

3. Participant Ledger Access
You will be provided access to a unique, real-time electronic ledger within the Portal that reflects:

- Your individual contributions,
- Disbursements and charges,
- Negative balances (if any),
- Administrative fees.

You agree to review your ledger monthly and report any discrepancies in writing within ten (10) business days following each monthly reconciliation.

4. Confidentiality and Use of Information
All information accessed through the Portal is confidential and proprietary. You agree:

Not to share, disclose, copy, or transmit any ledger or fund-related information without prior written consent from Palmetto Surety Corporation.

That access is granted solely for internal accounting, compliance, and reporting purposes.

5. Participant Obligations
Participants are required to:

- Maintain a non-negative balance in their ledger.
- Replenish any deficiencies upon notification.
- Pay administrative fees or penalties assessed by Palmetto Surety Corporation.
- Maintain updated contact and payment information.

Failure to resolve negative balances may result in suspension or termination of participation, legal collection efforts, and/or setoff against any amounts due to the participant.

6. Termination and Final Reconciliation
Your access to the Portal will be terminated upon your withdrawal or removal from PSCRAF. Within thirty (30) days, a final ledger statement will be issued. Any positive balances will be refunded. Any negative balances must be repaid in full within fifteen (15) business days, unless otherwise negotiated.

7. Electronic Signature and Legal Effect
By checking the acknowledgment box and electronically signing this Agreement, you:

- Consent to the terms of this Agreement,
- Accept that your electronic signature is legally binding under the Electronic Signatures in Global and National Commerce Act (E-SIGN) and applicable state laws.
- By Entering your cell phone number you agree to receive recurring SMS messages from Palmetto Surety Corporation regarding my payments, billing status, receipts, and account activity. Message frequency varies. Msg & data rates may apply. Reply STOP to cancel, HELP for help.

8. Governing Law
This Agreement shall be governed by, and construed in accordance with, the laws of the State of South Carolina, without regard to its conflict of law rules.

9. Dispute Resolution
Any dispute arising out of or relating to this Agreement shall be resolved through binding arbitration administered by the American Arbitration Association (AAA) in accordance with its Commercial Arbitration Rules. The arbitration shall take place in Charleston, South Carolina, unless otherwise agreed. Each party shall bear its own legal costs, and the decision of the arbitrator shall be final and enforceable in any court of competent jurisdiction.

10. Amendments
Palmetto Surety Corporation reserves the right to update or amend these Terms and Conditions at any time. Participants will be notified of material changes via email or Portal notice. Continued use of the Portal constitutes acceptance of any changes.