Legal Question in Banking Law in India
Hi ! My name is Aakash Sharma, I want to now that What is Indemnity bond and How many rupees stamps require on the indemnity bond for issuing of duplicate demand draft.
Asked on 1/07/15, 10:26 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
09.10.2015
Dear Aakash,
Indemnity bond is an assurance that you undertake all the risks involved in dealing with the transaction, and you agree to remain liable should any claim arise from any other party relating to the transaction anytime in the future i.e you agree to indemnify any / all the claimants to the transaction. A Non-Judicial Stamp Paper of Rs. 100/- is recommended.
Regards,
Answered on 1/08/15, 8:55 pm
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