What is an indemnity bond?
The process through which an affected party can obtain compensation from a principal's indemnity bond is by making a bond claim. The claimant can be either the obligee or another party empowered by the obligee to seek reimbursement. Below is the step by step procedure to get an Indemnity Bond Step 1: Prepare a draft in word format. A draft looks like a below image Step 2: Buy Rs. 500/- non-judicial e-stamp paper from a Co-operative bank, court, registrar office, or independent stamp vendor near you. Step 3: Print the draft on non-judicial e-stamp paper. Use normal A4 size paper for consecutive page print. Step 4: Carry the following documents to notary public near you Printer indemnity bond Applicant Aadhar Other supporting documents pertaining to bond Step 5 : Notary public read the printed indemnity bond and cross verify supporting documents. Step 6: Applicant signs indemnity bond in front of the notary. Step 7: Notary seal and sign the Indemnity bond. Notary makes an