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Annexure 18 Letter of Undertaking Cum Indemnity for Pre-closure/Pre-mature payment of Term/Fixed Deposit in case of Minor Nominee To The Branch Manager IDBI Bank Ltd. Branch Dear Sir Claim settlement of Deceased Shri / Smt. / Kum. In consideration of your having agreed to pay the proceeds of premature closure of the fixed deposit bearing no. of Rs. made by Shri the Depositor I son/daughter of Shri residing at assigns that Master/Miss Date of Birth who has been appointed as a nominee by the Depositor to the aforesaid Term/Fixed Deposit Account is a minor as on the date of this claim Date of attaining Majority. I am the person authorised by the Depositor to receive proceeds of the deposit on behalf of the nominee. In order to upkeep the minor nominee and other legal necessity of the nominee I requested the Bank for Premature Closure of the said Term/Fixed Deposit Account and pay the balance lying in the said Account along with the interest accrued the Amount to me on behalf of the minor ....

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A common example of indemnification happens with regard to insurance transactions. This often happens when an insurance company, as part of an individual's insurance policy, agrees to indemnify the insured person for losses that the insured person incurred as the result of accident or property damage.

An Indemnity bond is signed by a surety company when a property deal is finalised. The surety company will put forward a demand on the bonded contractor to complete a project. For example, suppose the bonded contractor fails to complete the projector; the surety company must get it done by another contractor.

There are 3 levels of indemnification: broad form, intermediate form, and limited form. This requires the indemnitor to pay not only for its liabilities but also for the indemnitee's liability whether the indemnitee is solely (i.e. 100%) at fault or partially at fault.

There are basically 2 types of indemnity namely express indemnity and implied indemnity.

You can purchase indemnity bonds through several insurance companies, however, they are often difficult to obtain. Contact your insurance broker for help. Be aware that even after you present an indemnity bond, a bank may require you to wait 30–90 days before it will issue a replacement check.

The Indemnifier hereby irrevocably agrees to indemnify the indemnified in the event of any defect subject to faulty material, workmanship, or any defect, which may arise in the delivery due to the shortcomings of the Indemnifier for the said period of twelve (12) calendar months from the date of commissioning of the ...

Example 1: A service provider asking their customer to indemnify them to protect against misuse of their work product. Example 2: A rental car company, as the rightful owner of the car, having their customer indemnify them from any damage caused by the customer during the course of the retnal.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232