Indemnity Bond

INDEMNITY BOND

This Indemnity Bond is made on [Date] between [Party A Name], residing at [Address] ("Indemnifier"), in favour of [Party B Name], residing/having office at [Address] ("Indemnified").

1. Background. This Bond is executed in connection with [Purpose / Matter, e.g. issue of duplicate document, release of amount, transfer of asset].
2. Indemnity. The Indemnifier agrees to indemnify, defend and keep the Indemnified harmless against all losses, damages, costs, charges, claims and liabilities arising directly or indirectly from the said matter.
3. Declaration. The Indemnifier declares that the facts and representations relied upon by the Indemnified in the said matter are true and correct to the best of the Indemnifier's knowledge.
4. Scope of Loss. The indemnity shall extend to any legal expenses, third-party claims and statutory penalties incurred by the Indemnified in relation to the said matter.
5. Payment on Demand. The Indemnifier shall reimburse the Indemnified any such loss within [Number] days of written demand, failing which interest at [Rate]% per annum shall apply.
6. Continuing Obligation. This indemnity is a continuing one and shall remain in force with effect from the Effective Date notwithstanding any change in circumstances.
7. No Waiver. Any delay or indulgence by the Indemnified shall not be construed as a waiver of its rights under this Bond.
8. Stamp Duty. This Bond is executed on stamp paper of the value prescribed under the applicable Stamp Act of [State].
9. Governing Law & Jurisdiction. This Bond shall be governed by Indian law and subject to the exclusive jurisdiction of the courts at [City].
10. Dispute Resolution. Any dispute shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated at [City].

IN WITNESS WHEREOF, the Indemnifier has executed this Indemnity Bond on the date first written above.