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Letter of Indeminity

The document is a letter of indemnity from a customer to IndusInd Bank regarding a lost demand draft or pay order. In 3 sentences: The customer requests that the bank cancels the lost demand draft/pay order and credits the amount to their account, or issues a duplicate, and provides an indemnity to protect the bank from any claims regarding cancelling/replacing the lost instrument. The indemnity states that the customer will reimburse the bank for any losses and pay the amount if the original is presented, and allows the bank lien over the customer's accounts. The customer agrees to return the original instrument if found.

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524 views1 page

Letter of Indeminity

The document is a letter of indemnity from a customer to IndusInd Bank regarding a lost demand draft or pay order. In 3 sentences: The customer requests that the bank cancels the lost demand draft/pay order and credits the amount to their account, or issues a duplicate, and provides an indemnity to protect the bank from any claims regarding cancelling/replacing the lost instrument. The indemnity states that the customer will reimburse the bank for any losses and pay the amount if the original is presented, and allows the bank lien over the customer's accounts. The customer agrees to return the original instrument if found.

Uploaded by

sksb losal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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LOSS OF DEMAND DRAFT/PAY ORDER

(ANNEXURE B)

Branch: Date: D D M M Y Y Y Y

To,
The Branch Head
IndusInd Bank Ltd.

Sub.: Letter of Indemnity

Dear Sir,
At my/ our request the Bank has issued Demand Draft/Pay Order bearing No. for `
(in words ) dated D D M M Y Y Y Y
in favour of .

The above referred Demand Draft/ Pay Order is lost and in spite of my/our best efforts I/ we have not been able to trace the same.

I/ We, therefore request you to cancel the above referred Demand Draft/ Pay Order and credit the amount thereof to my/ our SB/
Current A/c. No. maintained with you on my/ our giving an indemnity as hereinafter appearing, which you
have agreed to do so on the faith and strength of my/ our representation contained herein.
OR
I/We, therefore request you to issue duplicate Demand Draft/Pay Order in lieu of the lost Demand Draft/ Pay Order on my/our giving an
indemnity as hereinafter appearing which you have agreed to do so on the faith and strength of my/our representation contained herein.

In consideration of you agreeing to cancel the above referred Demand Draft/Pay Order and crediting the same in my/ our SB/
Current A/c. No. maintained with you to issue duplicate Demand Draft/ Pay Order in lieu of the lost Demand
Draft/ Pay Order, (strike out whichever is not applicable). I/ We, so as to bind myself/ourselves and each one of us jointly and severally and my/
our respective heirs, executors, administrators, estate and effects/ successors and assigns, hereby agree and undertake with you and your
successors and assigns as under:

1) To indemnify you and to keep you safe and indemnified from and against all claims, demands, actions, proceedings, loss, damage, liability,
costs, charges and expenses whatsoever, it may be made or commenced against you or be paid, sustained, suffered or incurred by you as a
consequence direct or indirect of cancellation of the lost Demand Draft/ Pay Order/ issue of duplicate Demand Draft / Pay Order in lieu of
lost Demand Draft/ Pay Order (Strike out whichever is not applicable),

2) To pay and make good on demand the amount of such loss, damage, liability, costs(the legal costs being as between attorney/ advocate and
client), charges and expenses together with interest at 18% p.a. from the date of payment by you until reimbursement by me/ us,

3) To pay to you the amount of the Demand Draft/ Pay Order in case the original Demand Draft/ Pay Order is presented by the payee for
payment, immediately on demand and without any demur,

4) That without prejudice to the right of lien and set-off conferred on you as a banker by law you will have the right to set-off any amount
payable by me/ us to you herein against the amount standing to the credit of my/ our any of the accounts maintained with you,

5) That I/ we shall return to you the original Demand Draft/ Pay Order should it be found by me/ us or should it again come into my/ our
possession at any time hereinafter.

Yours faithfully

Name & Address of Purchaser:

Signature of Purchaser

Name & Address of Sureties:

Signature of Sureties

(To be stamped as per State Stamp Act)

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