INDEMNITY BOND
BY
IN FAVOUR OF
__________, __________ (the "Bank").
WHEREAS:
NOW THIS BOND WITNESSES as follows:
- 3. If any person establishes, by a succession certificate, letters of administration, probate or a decree of a competent court, a better right to the said sum or any part of it, the Claimant(s) shall forthwith refund to the Bank, or to the person so established as entitled, the sum so paid, together with interest thereon at the rate the Bank may reasonably charge from the date of payment to the date of refund.
- 4. The Claimant(s) undertake, if called upon by the Bank at any time, to produce a succession certificate or such other proof of title as the Bank may reasonably require, and to defend, at their own cost, any suit or proceeding instituted against the Bank in connection with the said account or the payment made under this Bond, and to pay the Bank all costs, charges and expenses it may incur in connection with any such suit or proceeding or in enforcing this Bond.
- 5. This Bond binds the Claimant's (and any surety's) heirs, executors, administrators and legal representatives, and continues in force until the Bank confirms in writing that it is no longer required.
IN WITNESS WHEREOF the Claimant(s) have set their hands on the day and year first above written.
CLAIMANT(S)
WITNESSES: