Friday, 15 August 2014

Indemnity Bond in absence of Original policy bond


Department of Post
Office of The Director, new delhi gpo-110001
(pli Cpc Section)

To
            ________________________________
            ________________________________
            ________________________________

No.      : _______________                                                                                                                                Dated       : ______________

Subject: Furnishing of Indemnity Bond.

Sir,

            Kindly refer to your application dated _______________________________________ for issue of duplicate policy bond / claiming the maturity value for Policy No._______________________________________ which is stated to have been lost/misplaced/mutilated. In this connection you alongwith two solvent sureties are required to furnish an Indemnity Bond for `__________________________ on a non-judicial stamped paper worth ` 10/-. The following instructions should be observed carefully while furnishing the bond of indemnity.

(i)                   The text of the Bond of Indemnity as enclosed should be neatly typed over the front side only of the stamped paper/additional sheets. The additional sheets if used should be purchased from stamp vendor only. Ordinary typing paper or other kind of paper should not be used for this purpose.

(ii)                 Insurant and both the sureties should sign at the bottom of each page. The last and final page should however be signed by them at the space provided for this purpose. In case any page of stamped paper is left blank for any reason it should also be signed by them.

(iii)               Two separate individuals should witness the signature of Insurant and both the sureties on the last and final page. Witness to insurant can be the witness to sureties also. Sureties cannot be witness to insurant and similarly Insurant cannot be witness for sureties. As far as possible, sureties and witnesses should be from the same locality or establishment/ office and literate enough who can read and write.

(iv)               Correction or over writing/typing in the name of insurant, sureties, witnesses and amount is not allowed.

(v)                 The Bond of Indemnity should be sent to this office alongwith the enclosed text for further necessary action.


                                                                                                                                                     Yours faithfully



                                                                                                                                                  Asstt Director (Admn)
                                                                                                                                                   New Delhi GPO-110001




For your convenience of the insurant, please read the following:

There are many insurant who do not know what to do when the policy document is lost.   For their convenience, the following is the format which can be used for preparing the indemnity bond.   The requirement of the Department in this connection is as under:

1.        FIR to be lodged with the Police station about the loss of Policy Document.
2.        A fee of Rs 50- is to be deposited in any post office for issue of the duplicate policy bond and receipt be pasted on the application for issue of issue of duplicate bond.
3.        The signatures of the insurant and solvent are required on each page, irrespective of number of pages.
4.        On the last page two witnesses are required to sign, both the witnesses will be other than the solvent.
5.        Photocopy of ID proof of each person signing as solvent and / or the witnesses to be attached.
  1. The face value of the policy will be written wherever the amount is required to be given.




Personal bond of indemnity
at the request and cost the insurant

-----------

(To be executed by the insurer in absence of Policy document lost from his custody)

            Know all me by these present that I…………………………………………………… am held and family bound upto the president of India (hereinafter called the presidents). In the sum of (`………………………………………………………………………………………………………) (face value of the policies) of Lawful money on India to be paid on demand and without demand to the president. His certain attorneys, successors or assigns for  which payment well end tudly to be made I bind myself my her is executors, administrators and representatives, firmly by these president.

            SeBled with my seal dated this ………………………………day of..……………………….. in the Christian year two thousand and…………………………………………………………………..

            Whereas on or about the ………………………………….day of …………………………….. I………………………………………………………purchased from the Director General P&T (hereinafter called the Director General) a Govt. of India Post Offices L.I/E/A Policy Numbered………………………………..of the face value of ` …………………………………… bearing a monthly premium of ` ……………………………… payable upto the time of my death/age…………………………… AND Whereas I have applied to the Postmaster General…………………………….. for the settlement of my claim and payment of money in respect of the said policy AND Whereas the policy has been lost and is not forth-coming AND Whereas I have not produced the said policy issued to me Sh……………………………………………………… by the Deputy General Postal Life Insurance, Calcutta AND Whereas I represented to the Postmaster General………………………………………………………..Circle about the said facts and that the said policy has not been assigned or transferred to nobody or disposed of in any other way AND Whereas the Postmaster General ……………………………………………….Circle has under the direction of the Director General Posts, New Delhi and on behalf of and as agent of the President rolying on my said representation……………………………………………………………………….. Acceded to the said application on condition of my executing for the better protection of the such bond above written with such consideration as here under is written.  


Provided further that the liability of sureties hereunder shall not be impaired or discharged by reason of time being granted or any for bearance act or omission of the President of any person authorised by him (whether with or without the consent or knowledge of the sureties) nor shall be necessary for the president to sue the said (A) and (B) before suing the sureties for amounts due hereunder. 




(a)…………………………………………….                   (b)……………………………………..

Signed, sealed and delivered by the                                   Signed sealed and delivered by the above
Above named (a)                                                               named (b)


Signature of the insurant                                                    Signature of the nominee

(Two witness to sign here)                                                 (Two witness to sign here)
1………………………………………………                      1………………………………………...



2………………………………………………                      2………………………………………...


(c)…………………………………………….                     (d)……………………………………….

Signed sealed and delivered by the above                         Signed sealed and delivered by the above
Named (c)                                                                          named (d)


Signature of the 1st Surety                                                  Signature of 2nd Surety


Two witness to sign here                                                    (Two witnesses to sign here)

1………………………………………………                     1…………………………………………


………………………………………………..                      ………………………………………….


2………………………………………………                     2…………………………………………


………………………………………………..                      ………………………………………….




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