The Compass $125,000 Guarantee

Corporate Veil Guarantee Terms and Conditions:

The Compass Group is strictly subject to the following Terms and Conditions:

  • In order to become and remain eligible for the Guarantee, the covered company must fully complete and comply with all applicable designated activities in our guarantee checklist within the required time frames and agree to be subject to the terms and conditions outlined herein.  The Guarantee is not available or effective if the company is or has been past due or non-compliant with any of the applicable checklist activities.  Eligibility for the Guarantee and the guarantees there under is subject to final determination by The Compass Group.
  • The Guarantee is activated only when a non-related third party successfully pierces the corporate veil of the covered company and, as a result, the owners, directors, officers, managers or member of the company are held personally liable for the debs and contractual obligations of the covered company to third parties, ads determined by a court of competent jurisdiction in the United States.
  • The Guarantee does not cover claims against the company made by or through the IRS, any other government taxing authority, or any other government agency.
  • The Guarantee does not provide coverage for claims relating to illegal or fraudulent activates, improper conduct by the company’s owners, officers, directors, managers, member or agents, or intentional misconduct or grossly negligent conduct. 
  • The Guarantee is only available and effective during the period of the covered company’s paid paperwork service with The Compass Group.  Events prior to the company’s enrollment in the program or after termination of the paperwork service with The Compass Group are not covered.
  • In the event of a claim against the Guarantee, to receive payment approval the covered company will be required to provide valid documentation of (1) the timely and full completion of and compliance with each applicable Guarantee Checklist activity and (2) the covered legal defense expenses incurred.
  • The Guarantee coverage is not insurance and is limited to reasonable and documented legal defense expenses incurred and paid by the covered company in direct connection with the company’s good faith defense against a corporate veil piercing claim brought against the company in a court of competent jurisdiction in the United States.
  • In no even will coverage under the Guarantee with respect to a covered company exceed $100,000.
  • The covered company’s sole recourse against The Compass Group under or related to the Guarantee shall be reimbursement for legal defense expenses as expressly provided herein and in no event shall The Compass Group be liable to the covered company or any other person or entity for any other claims, benefits, damages or expenses arising under or related to the Guarantee.
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DISCLAIMER: Compass Group and its employees or agents are not in the business of providing tax or legal advice. If legal advice or other expert assistance is required, the services of a person in those professions should be sought. Compass Group, its employees and agents do not make any factual determination as to the validity of any business deduction for tax purposes. Compass Group does not expressly or impliedly endorse, accept, or validate any business record produced by Compass Group on behalf of Client. The Completed Documents produced by Compass Group through this written request are based solely upon the information provided by the client.