INDEMNITY BOND FORMAT | FORMAT OF INDEMNITY BOND | FORMAT FOR INDEMNITY BOND | INDEMNITY BOND SAMPLE
INDEMNITY BOND FOR NOC LOSS
This Bond is executed on the __th day of June ____ by ___________ Managing Director of ____________, aged __ years, S/o __________ in favour of the ______ Bank, _________ Branch under the Terms and conditions hereinafter mentioned.
Whereas the Indemnifier had availed a vehicle loan for purchase of vehicle bearing Registration NO. ________ and agreement No. ___________was executed and all the instalments towards the loan was paid by the Indemnifier to the satisfaction of the (ICICI) Bank, (Malappuram) Branch and a No Objection Certificate was issued by (ICICI) Bank in favour of the Indemnifier.
The above said No Objection Certificate had been irrecoverably lost from the Indemnifier and a duplicate of the NOC was issued to the Indemnifier and it was endorsed in the registration certificate of the vehicle by the RT authorities.
And now the Indemnifier approached the (ICICI) Bank, _______ for a further loan on the vehicle.
Now in consideration of this bond, ICICI Bank, _______ having agreed to sanction a new loan to the Indemnifier and the Indemnifier undertakes that he will not use the original NOC referred earlier with respect to the new loan to be issued to him by the bank even if the NOC is found out / recovered in future and agrees to indemnify and save harmless the ICICI Bank, __________from all losses, claims, damages, suits and of action which may arise out of the non production of the NOC issued to him earlier payment having been so made.
The Indemnifier further declares that he shall surrender the No Objection Certificate to the ICICI Bank, _______ in case he find or recover the same at a later date.
Signature of the Indemnifier.
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