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Affidavit and Indemnity Bond is a document which affirms the other party to save him/her from loss caused to him/her by the conduct of the promisor himself, or the conduct of any other person. It is a document which serve as a security that in case of loss caused, the other person shall indemnify the same.
The Indemnity bond should be signed by two witnesses and two sureties (name, address and signature). 12. Affidavit should be verified in presence of a First Class Magistrate or a Notary Public. In the event of verification in the presence of Notary Public, the Affidavit should contain the notarial stamp.
An affidavit of loss is a document declaring that a security, such as a stock certificate, is lost or destroyed. The security issuer requires an affidavit in order to indemnify the holder or replace the certificate. Individuals can file affidavits of loss for other types of document, such as a passport or diploma.
- (a) Full name of the claimant referred to as the 'Obligor'. (b) State relationship of the Obligor to the deceased. (c) Name of the deceased Government Officer. (d) Full name or names of the Sureties with name or names of the father(s)/husband(s) and place of residence.
The executor of this bond indemnifies the government of India (Ministry of Finance) and keep it indemnified against all costs, damages, charges and expenses, excess amount of refund, interest, reduction in demand and also against all sum/money, whether for damages, costs, charges, expenses or otherwise.
What is Affidavit and Indemnity? Affidavit and Indemnity Bond is a document which affirms the other party to save him/her from loss caused to him/her by the conduct of the promisor himself, or the conduct of any other person.