This bond of indemnity was executed by the heirs of a deceased person who had maintained an account with Allied Bank Limited. The heirs requested the bank to make payment of the funds in the deceased's account to them without producing a succession certificate. The heirs agreed to jointly and severally indemnify the bank against any claims, losses, or expenses incurred for making the payment without a succession certificate. The heirs represented that they were the only legal heirs of the deceased account holder.
This bond of indemnity was executed by the heirs of a deceased person who had maintained an account with Allied Bank Limited. The heirs requested the bank to make payment of the funds in the deceased's account to them without producing a succession certificate. The heirs agreed to jointly and severally indemnify the bank against any claims, losses, or expenses incurred for making the payment without a succession certificate. The heirs represented that they were the only legal heirs of the deceased account holder.
This bond of indemnity was executed by the heirs of a deceased person who had maintained an account with Allied Bank Limited. The heirs requested the bank to make payment of the funds in the deceased's account to them without producing a succession certificate. The heirs agreed to jointly and severally indemnify the bank against any claims, losses, or expenses incurred for making the payment without a succession certificate. The heirs represented that they were the only legal heirs of the deceased account holder.
This bond of indemnity was executed by the heirs of a deceased person who had maintained an account with Allied Bank Limited. The heirs requested the bank to make payment of the funds in the deceased's account to them without producing a succession certificate. The heirs agreed to jointly and severally indemnify the bank against any claims, losses, or expenses incurred for making the payment without a succession certificate. The heirs represented that they were the only legal heirs of the deceased account holder.
Being heirs of late Mr. /Mrs. / Miss ______________________________________________
Herein – after collectively referred to as “Principal Party” (Which expression shall unless repugnant to the context means and includes their respective heirs, legal representatives, executors, administrators and assigns) of the One Part:
Hereinafter collectively referred to as “Indemnifiers” (Which expression shall unless repugnant
to the context means and includes their respective heirs, legal representatives, executors, administrators and assigns) of the Second Part in favor of Allied Bank Limited, having its Head Office at Lahore and a branch at _____________________________ hereinafter referred to as “Bank” (which expression shall unless repugnant to the context means and includes its successors-in-interest and assigns) of the Third Part:
WHEREAS (late) _________________________ was maintaining an account with branch of the
Bank being Account No ______________________________________________________in his/her own name.
AND WHEREAS the said Account Holder died on ____________________________________
Leaving behind him/her following heirs:
1) Name______________________________________ Age ________________________
2) Name______________________________________ Age ________________________ 3) Name______________________________________ Age ________________________ 4) Name______________________________________ Age ________________________ 5) Name______________________________________ Age ________________________ 6) Name______________________________________ Age ________________________
AND WHEREAS at the time of the death of the above said Account Holder a sum of
Rs. ___________ Plus profit ( if any) is standing to the credit of the said deceased in the said account and the Principal Party and the Indemnifiers have approached the Bank for making payment of the said amount to the Principal Party and the Indemnifiers agree and undertake jointly & severally to indemnify ABL and hold ABL indemnified, saved and harmless against any claims, proceedings, losses, harms, determents, liabilities, demands and costs that may be sustained or incurred by or made against the Bank by reason of the Bank making payment as aforesaid.
NOW THEREFORE THIS BOND WITNESSETH
1) That in consideration of the Bank having agreed at the request of the Principal Party and the Indemnifiers to make payment to the Principal Party of the above said amount of Rs. _______ Without production of the Succession Certificate, the Principal Party and the Indemnifiers hereby undertake, agree and bind themselves jointly and severally at all times to indemnify and keep the Bank indemnified safe and harmless from and against all claims, demands, proceedings losses, liabilities, harms damages, detriment costs, charges and expenses and consequences which the Bank may sustain, incur or be further liable for by reasons of the Bank making the payment of Rs._____________ to the Principal Party. 2) The Principal Party and the Indemnifiers were explained the above document in ________________ Language which they understood completely and after having understood the same signed this bond in our presence. 3) That the Principal Party and Indemnifiers further jointly and severally agree that two days after demand they shall make payment of all their liabilities arising against them on account of this Indemnity Bond without any question of any nature whatsoever. 4) That the Principal Party and the Indemnifiers further represent that the heirs mentioned hereinabove are the only heirs left by the deceased _______________ and no one else is the heir nor any other has been left out from the list of the heirs mentioned hereinabove.
IN WITNESS WHEREOF the Principal Party and the Indemnifiers have signed and executed this bond in favor of ALLIED BANK LIMITED on the day and year mentioned hereinabove in the presence of Witnesses.
As Natural Guardian of _________(Minor) 6) Name:___________________________ Signature: __________________________ As Natural Guardian of _________(Minor)
