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Function: require_once
An indemnity bond is an agreement executed agreeing to indemnify the loss that may occur in future on account of the act favoured to the executant. An indemnity bond is a bond intended to reimburse the holder for any claimed or actual loss caused by the conduct of issuers or another person.
When the principal fails to perform according to conditions agreed between the obligee and the principal, then the indemnity bond acts as coverage for loss of an obligee.
It is a promise by a guarantor to pay the one party, which is, of course, the obligee, a certain amount, if another party is not able to fulfil the terms and conditions of a contract. The primary role of this bond is to protect the first party against losses that occur as a result of failure to meet the obligation by the principal. An indemnity bond is considered as a three-party agreement involving the obligee, the principal and the surety.
Indemnity Bond is required in various faculties and for various reasons such as:
1. Construction Industry
2. Buying a Home
3. Buying Companies or Shares
4. Government Indemnity Schemes
5. Insurance
Why Legato?
Connect with a Legal Expert easily Legato is your one stop destination with everything related to legal. It empowers you with access to a network of verified lawyers providing their services at all costs. Moreover, our dedicated Case Follow-Up Manager will assist and update you with the progress.
Verified lawyer network Our network for 1000+ verified lawyers will not only assist you with your case but update you and advise you with things to do & not to do.
Quick results Once, the legal expert is finalized, you are ready for quick action related to your work. Majority of the lawyers will share a time estimate of what to expect moving forward.
You need to select one of the Lawyers considering your case category and profile of the Lawyers. Once you are sure with the Lawyer, you need to select call option given in the profile page of the Lawyer, in the website as well as in the mobile app. After selecting the call option,the time slot needs to be selected, and payment needs to be made for confirmation of the call consultation. At the selected time our system shall connect you and Lawyer We have half an hour time slots placed for every call consultation and after said time slot selected call shall automatically get disconnected.
Kindly make sure that you keep all information and documents about the matter handy before the time of call so that to avoid any delays.
In an event where you miss the call at the selected time, our system shall dial-in the call again after 5 minutes as a second attempt. In case of failure of the second attempt,the system shall try after another 5 minutes as a third attempt.
After the failure of the third attempt, you need to contact our support team (contact details shared on the website) so that they can talk to respective Lawyer, and reschedule the time of the call.
In such an event you can contact our support team (contact details shared on the website), and they shall be assisting you as quickly as possible in completing your call.
Yes, they are diligently verified. For your ease, we have mentioned their bar council number as well so that their identity can be checked from Indian Bar Council.
Definitely yes. We are using high-end technology and SSL certificates to secure data. In addition to this,we are using AWS secured cloud storage together with 256-bit encryption. Further, we are using Paytm as our payment gateway, which is highly secured as per legal standards.
We are using high-end technology and SSL certificates to secure data. In addition to this,we are using AWS secured cloud storage together with 256-bit encryption.
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