Documentation Law
Indemnity Bond
A document by which a person agrees to compensate another for any loss they might suffer due to a specified act or circumstance.
Indemnity bonds are commonly required in situations like claiming a duplicate document (a lost share certificate, for instance), where the issuing authority wants assurance it won't be held responsible if the original later resurfaces and causes a dispute.
Executing an indemnity bond effectively shifts the risk of a specified future loss onto the person giving the indemnity.
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