Indemnity Bond definition

Indemnity Bond means a written undertaking of a financial institution on behalf of a Customer to cover any losses suffered by EEA arising from non-payment by the Customer of money the Customer owes to EEA.
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Indemnity Bond. A bond in the amount of the deposit requested will be accepted in lieu of a cash deposit upon its receipt from a surety company. The selection of the surety company shall be the responsibility of the customer. However, the Bond Forms must be secured from and approved by Memphis Light, Gas and Water Division. The Bond will be held for two (2) years. CERTIFICATE OF DEPOSIT: We will accept this type of instrument purchased through a bank for a two (2) year period at standard interest rates. The Certificate of Deposit (Time Receipt) will be held in safekeeping by the Division in lieu of the deposit. Certificate must be made jointly to the customer and Memphis Light, Gas and Water. BANK LETTER OF CREDIT: Irrevocable letter of credit must be furnished to the Division by a bank approved by Memphis Light, Gas and Water Division, which guarantees full payment of deposit if utility xxxx is delinquent. Letter must state for a two (2) year liability period.
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Indemnity Bond means an under- taking conditioned that the asserted owner of an instrument, as principal, will protect the issuer and the paying officer against loss or liability resulting from any demand or payment of the principal of or interest on an instrument and that such asserted owner will surrender such instrument to the paying of- ficer if it comes into the possession of the asserted owner.
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Examples of Indemnity Bond in a sentence

  • Date: Place: Dy. Director, MCGM – CTC, PHO & BMT Centre, Borivali (E.) XXXX L.T.M.G. HOSPITAL ANNEXURE “B” (To be submitted on Stamp paper / Franking of Rs. 200/-Only by Successful Quotationer) UNDERTAKING CUM INDEMNITY BOND I, ,aged years, Xxxxxx gives an UNDERTAKING CUM INDEMNITY BOND as under: AND WHERAS we are registered contractor with the Municipal Corporation of Greater Mumbai and / or (Name of the authority), having Vendor Registration No. .

  • Telephone No. Signature of Authorized Signatory of NABARD, Mizoram RO Aizawl (Signature of Witness 1) Name of Witness Address of Witness (Signature of Witness 1) Name of Witness Address of Witness (Signature of Witness 2) Name of Witness Address of Witness (Signature of Witness 2) Name of Witness Address of Witness Annexure VIII INDEMNITY BOND (On Rs. 100/- Stamp Paper) KNOW all men by these presents that I, Shri..............................................................

  • INDEMNITY BOND THIS INDEMNITY XXXX is executed at Panchkula, on this day of ,2007 by .

  • Designation: ……………………………… INDEMNITY BOND THIS BOND is executed on this ………..

  • THIS INDEMNITY BOND HAS BEEN SIGNED, SEALED AND EXECUTED BY THE PARTIES ON THE DAY MONTH AND YEAR FIRST ABOVE WRITTEN.

  • Signature Clause SIGNED AND DELIVERED by the National Bank for Agriculture and Rural Development by the hand of 27 Shri (Name & Designation) In the presence of: Witness #1 Signature: Name: Address Witness #2 Signature: Name: Address SIGNED AND DELIVERED by the Bidder (Name, Signature & Designation) Witness #1 Signature: Name: Address Witness #2 Signature: Name: Address 28 INDEMNITY BOND (On a Rs 200/- Non- Judicial stamp paper) Annexure B Know all men by these presents that I, Shri.

  • AND WHEREAS the said Welfare Fund has agreed to pay the amount to the bounden parties on their executing an INDEMNITY BOND as herein contained.


More Definitions of Indemnity Bond

Indemnity Bond. An agreement to hold a carrier harmless with regard to a liability. Inland Carrier : A transportation line that hauls export or import traffic between ports and inland points.
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Indemnity Bond. THE SECOND PARTY agrees to indemnify the first party against all or any loss suffered or that may be suffered (including all or any damages, costs, charges, expenses, actions, causes, suits, proceedings, claims, demands, vicarious liabilities devolving on the second party from the first party, and liabilities incurred by the first party on account of default in due performance of obligations or observance of the terms and conditions of the aforementioned agreement by the second party), that may arise in consequence of any act of commission or omission of the second party, and in consideration whereof the first party has engaged the second party as an employee of the first party. THE SECOND PARTY, accordingly, shall execute an indemnity bond in the form prescribed by THE FIRST PARTY, failing which payment of emoluments, if any, may be withheld.
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Indemnity Bond. The Contractor shall indemnify PRL on a Rs.200/- non-judicial stamp paper against any action, claims or proceedings relating to infringement of all or any of the prevailing laws like Workmen’s Compensation Act, 1923, Contract labour (R&A) Act, EPF Act, ESI Act, Industrial Dispute Act and any other Acts relevant to labour or industrial workers during the currency of the Contract.
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Indemnity Bond means an obligation in writing under seal which the ship owner and his bonding company as (Principals) agree to pay the obligee (Claimants) the agreed amount if the stipulated event, in this case a deposit of waste, occurs. The ship owner and the bonding company are jointly and severally liable to pay;
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Related to Indemnity Bond

  • Indemnity Payment shall have the meaning set forth in Section 4.4(a).

  • Surety Bond The Limited Purpose Surety Bond (Policy No. AB0039BE), dated February 28, 1996 in respect to Mortgage Loans originated by MLCC, or the Surety Bond (Policy No. AB0240BE), dated March 17, 1999 in respect to Mortgage Loans originated by Novus Financial Corporation, in each case issued by Ambac for the benefit of certain beneficiaries, including the Trustee for the benefit of the Holders of the Certificates, but only to the extent that such Surety Bond covers any Additional Collateral Loans, or such other Surety Bond as may be identified in the Series Supplement.

  • Indemnity means the payment of an amount to offset all or part of an insured loss.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • Indemnity Period means the period during which the results of the business are affected resulting from the occurrence beginning with the date of the accident causing injury but not exceeding the maximum indemnity period

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Reimbursement insurance policy means a policy of insurance

  • Indemnity Agreement means that certain Indemnity Agreement dated as of the Closing Date by Borrower and Indemnitor in favor of Lender.

  • Limit of Indemnity means the amount stated in the Schedule pursuant to Clause 5 of this Policy.