Indemnity Given To The Bank By The Natural Guardian Of Minor Children

 

Indemnity Given To The Bank By The Natural Guardian Of Minor Children

 

 

To

The

..........................................

…………………………Bank,

………………………Branch,

……………………………………

 

Dear Sirs

WHEREAS

(1) Shri .................. son of late Shri .................................... resident of…………………was having a fixed Deposit No………………… dated………………… for years @ …………………% interest per annum and the said fixed deposit has become due on …………………The said Shri…………………had not nominated anybody to receive the proceeds of the said Fixed Deposit Receipt on his death under the Banking Companies (Nomination) Rules, 1985.

 

(2) The said Shri ... expired on………………… leaving Smt …………………and his minor son Master………………… as his only legal heirs in accordance with Hindu Law, by which the said Shri …………………governed at the time of his death

(3) The said Smt …………………. has applied to you to pay the maturity proceeds of the said FDR viz. Rs ………………… to me for myself and as mother and natural guardian of my minor son………………… without insisting on the production of legal representation to the estate of the deceased Shri …………………which you have agreed to pay on condition inter alia, on my executing this Letter of Indemnity with two sureties

 

NOW THIS LETTER OF INDEMNITY WITNESSETH THAT in consideration of your agreeing to pay to the said Smt . …………………for herself and in her capacity as mother and natural guardian of her minor son Master …………………the said sum of Rs………………… being the maturity proceeds of the Fixed Deposit Receipt No………………… dated………………… for Rs………………… . we (1) Smt …………………. the claimant aforesaid and (i) ………………… and (ii) …………………as sureties hereby bind and oblige ourselves, our heirs, executors, legal representatives and assigns jointly

And severally to indemnify and keep indemnified the …………………        Bank, its successors and assigns of, from and against all claims, demands, actions, proceedings, losses,  damages, costs, charges and expenses which may be made, or brought or commenced against  the Bank or which the…………………  Bank may have to pay, incur or suffer as a result (direct or indirect) of the payment to the said Smt………………… aforesaid sum of Rs…………………

 

IN WITNESS WHEREOF, we (1) Smt ........ and (i) .............. and (ii) ………………… aforesaid have subscribed our names hereunto on this………………… day of 20…………………

                                    

 

 

 

 

WITNESSES                                                                                         

1                                   Signed and delivered by the within named Smt.

2.                                 Signed and delivered by the within named

 

Shri…………………(First Surety)                                         

Signed and delivered by the within named Shri ... .. (Second Surety)