GENTLEMEN:

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP78-04718A000300130001-5
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 9, 2016
• Document Release Date: June 26, 2001
• Sequence Number: 1
• Publication Date: December 30, 1952
• Content Type: LETTER

Approved For Relea 2001/08/08 : CIA-RDP18-04718A000M130001-5
J ilk ki 2 1 53
Liberty Mutual
Boston
Massachusetts
The above Chattel Lien Non-Filing Bond was issued by your company
to the CIA Federal Credit Union, in care of the undersigned, effective
May 11, 1952. I am writing this letter to obtain prospective confirma-
tion of our understanding that the coverage of this bond extends to
certain situations which we anticipated might arise at the time we
entered into this agreement but which are not expressly provided for
therein.
Paragraph I of the Insuring Agreements provides in part that the
company will
"indemnify the insured for any loss sustained by reason of
having in good faith and in the usual course of business
purchased, taken, received, made advances on, made loans
against or extended credit upon an instrument, as herein-
after defined, but only in so far as the loss results from
the insured being prevented from...(2) in enforcing its
rights under such instrument, solely as the result (a) of
the failure of the insured or the insured's representatives
duly to record or file the instrument with the proper public
officer or public office..."
It is our understanding that this paragraph provides coverage in
those exceptional cases where the policy of CIA prevents recording of
an instrument for reasons peculiar to the unique requirements of that
agency. The !"failure...to record" in these instances, is thus not the
result of inadvertency or oversight, but rather the concerted intent
of the insured and CIA. The determination not to file in any given
instance must, of course, be made exclusively in the discretion of
CIA and the CIA Federal Credit Union. If our understanding is a proper
representation of the meaning of the provision partially quoted above,
would you kindly request an authorized representative of your company
to concur therein in behalf of the company by signing in the space
provided below.
CENTRAL INTELLIGENCE AGENCY
WASHINGTON 25, D. C.
30 December 1952
'Document No. -/-------------------
No Change In Class.
0 Dseiasslfed
Class. Changed To: TS S C
Auth.: R 70-2
Date: _'3A) J..2T_ Dy: , dl
1~. 0 . BOINI+D DIVISION
Insurance Company
Approved For Release 2001/08/08 : CIA-RDP78-04718A000300130001-5
 Approved For Relee 2001/08/08 : CIA-RDP78-04718A00M0130001-5
We should like this expression of understanding to be attached
to and become a part of the above-named bond and your signification
of concurrence therein to be an agreement accordingly. To that end
we enclose an executed copy of this letter with the request that
you sign as above indicated if determined appropriate and return to
us for our files.
Very truly yours,
STATINTL
CIA Federal Credit Union
LIBERTY MUTUAL INSURANCE COMPANY
By ~"-?"~p VS . ~.t,.,v,.~,.~ A~o-f L~ / (J....2w~-sJ~J
Authorized RepresentatL
Approved For Release 2001/08/08 : CIA-RDP78-04718A000300130001-5