Tuesday, July 03, 2012

Performa of Indemnity Bond to be obtained from the depositor(s) for issuance of a duplicate Term Deposit Receipt


To

The Manager
UCO Bank
…………………………… Branch            Date: ………………………

Dear Sir,

Re: Term Deposit Receipt No. ………………………………… dated …………………………… for Rs…………………………. in favor of …………………………………………due on ………………….………

1) I/we was/were until recently in possession of the abovementioned Term Deposit Receipt issued by you in my/our favor.

2) I/we regret to inform you that the said deposit receipt has been lost and I/we have not been able to trace the same in spite of a diligent search for the same.

3) I/we state that I/we have not created any right or interest or lien against the said receipt or in the debt represented by it, in favor of any person whomsoever.

4) I/we further state that the said Term Deposit has not been seized or taken possession of or delivered to any Government authorities or a Receiver.

5) I/we have requested you to issue a duplicate Term Deposit Receipt in lieu of the above-mentioned receipt which has been lost and to treat the original Term Deposit Receipt as invalid and cancelled. You have agreed to accede to my/our above request in good faith on the strength of my/our above representation and assurances and on my/our submitting to you indemnity, undertaking and authority as herein appearing.

6) In consideration of the promises, I/we so as to bind myself/ourselves and my/our heirs executors, administrators, assigns, estates and effects hereby agree and undertake with you, your successors and assigns as under :

a) to keep you safe and indemnified from time to time and at all times from and against all claims, demands, actions, proceedings, loss, damages, liability, costs, charges and expenses whatsoever, which may be made or brought or commenced against you or to be paid, sustained, suffered or incurred by you howsoever as consequence directly or indirectly of your –‚ issuing to me/us duplicate term deposit receipt as aforesaid. ‚ treating the original of the above-mentioned term deposit receipt as good as invalid and cancelled. ‚ making payment on maturity or before maturity of the relative deposits and allowing credit or quasi credit facilities against the duplicate term deposit receipt.

b) To give you full and final discharge and acquittal as against me/us and assigns or holders of the original term deposit receipt, if any, on your payment of the deposit against the duplicate Term deposit receipt treating the payment as made against the original Term Deposit Receipt itself.

c) To pay to you and make good on demand by you the amount of such loss, damage liability, costs charges and expenses together with the interest at PLR rate of the Bank from the date of payment by you until reimbursement by me/us.

d) To return to you the original Term Deposit Receipt as aforesaid should the same be found by me/us or again come into my/our possession, at any time hereafter.

Yours faithfully,

1.    Name……………………………………………................................Address………….....…………Signature…………..……
2.    

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