Indemnity bond format should be very carefully designed so as to avoid any further concerns, as this being a legal document and any kind of mistakes may lead to serious issues to either of the parties. Indemnity bond is something used between the signing parties as an acceptance agreed by the holder entering into the contract to bear any kind of losses in case of breaking the contract.
Format of indemnity bond should be in such a way that it includes all the details of either parties along with the location where the bond is signed, details about the witnesses and most importantly the terms and conditions along with the main purpose of the bond being signed explained in detail. There are various scenarios where an indemnity bond can be issued like between employee and employer, loss of share certificate, PF claim cases, IT refund request cases, between 2 companies, in any legal hierarchy transfer cases and many more as such.
Here is a sample indemnity bond format for employees that can be used as reference. Make only necessary modifications to the format for indemnity bond while updating the information so as to suit your requirement. However it is suggested to get the assistance from a lawyer as it being a legal document.
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