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PROFORMA OF INDEMNITY BOND FOR LOST DEPOSIT RECEIPT (TO BE EXECUTED ON STAMP PAPER OF APPROPRIATE VALUE)WHEREAS DEPOSIT RECEIPT NO. dated for Rs./ USD issued by INDIAN OIL CORPORATION LIMITED in favor
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How to fill out proforma of indemnity bond
How to fill out proforma of indemnity bond
01
To fill out the proforma of indemnity bond, follow these steps:
02
Start by typing or writing the date on the top left corner of the bond.
03
Write the name and address of the person or organization providing the indemnity in the 'Indemnifier' section.
04
In the 'Indemnitee' section, write the name and address of the person or organization being indemnified.
05
Specify the amount of indemnity in both words and figures. Write the amount in words in the designated space and also in figures in the parentheses next to it.
06
Indicate the purpose or reason for indemnity in the 'Purpose' section. Clearly mention the events or situations for which the indemnity is being provided.
07
The 'Terms and Conditions' section should outline the rules and obligations related to the indemnity bond. Write these terms and conditions in clear and concise language.
08
Both the indemnifier and indemnitee should sign the bond at the designated spaces. The signatures should be accompanied by the printed names and dates.
09
If required, the bond can be attested or witnessed by a third party. In such cases, provide the name, address, and signature of the witnesses in the designated spaces.
10
Make sure to review the filled proforma of indemnity bond for accuracy and completeness before finalizing and executing it.
11
Keep multiple copies of the bond for future reference and record-keeping purposes.
Who needs proforma of indemnity bond?
01
Proforma of indemnity bond is needed by individuals, organizations, or businesses that want to provide or obtain indemnity in case of any potential losses or damages.
02
Common examples of who may need an indemnity bond include:
03
- Contractors entering into an agreement with clients or companies.
04
- License holders who need to provide indemnity to regulatory authorities.
05
- Individuals or businesses participating in risky activities or ventures.
06
- Entities involved in financial transactions or contracts where a guarantee of compensation is required.
07
It is important to consult legal and professional advice to determine if a proforma of indemnity bond is necessary in specific situations.
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What is proforma of indemnity bond?
Proforma of indemnity bond is a standard format or template used for creating an indemnity bond document.
Who is required to file proforma of indemnity bond?
Any party or individual who needs to provide a guarantee or security for a specific purpose may be required to file a proforma of indemnity bond.
How to fill out proforma of indemnity bond?
To fill out a proforma of indemnity bond, one must provide all the required information accurately as per the template provided, including personal details, the purpose of the bond, and the amount of coverage.
What is the purpose of proforma of indemnity bond?
The purpose of proforma of indemnity bond is to provide a form of security or guarantee to ensure that certain obligations are met by the party for whom the bond is being issued.
What information must be reported on proforma of indemnity bond?
The proforma of indemnity bond must include details such as the name and address of the parties involved, the amount of coverage provided, the purpose of the bond, and any additional terms or conditions.
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