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    Indemnity Letter For Wrong Neft-1-1

    Uploaded by

    Avinash Chandra
    The document contains 3 annexures providing indemnity for different NEFT transaction errors made by a remitting bank branch. Annexure I is an indemnity for multiple NEFT transactions credited erroneously to a beneficiary account. Annexure II is an indemnity for excess funds credited to a beneficiary account due to an incorrect amount in a NEFT transaction. Annexure III is an indemnity for an erroneous NEFT transaction credited to the wrong beneficiary account number. The remitting bank requests return of the funds and indemnifies the beneficiary bank against any losses arising from reversal of the payment instructions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Indemnity Letter For Wrong Neft-1-1

    Uploaded by

    Avinash Chandra
    22K views3 pages
    The document contains 3 annexures providing indemnity for different NEFT transaction errors made by a remitting bank branch. Annexure I is an indemnity for multiple NEFT transactions credited erroneously to a beneficiary account. Annexure II is an indemnity for excess funds credited to a beneficiary account due to an incorrect amount in a NEFT transaction. Annexure III is an indemnity for an erroneous NEFT transaction credited to the wrong beneficiary account number. The remitting bank requests return of the funds and indemnifies the beneficiary bank against any losses arising from reversal of the payment instructions.

    Original Title

    INDEMNITY LETTER FOR WRONG NEFT-1-1

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    © © All Rights Reserved

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    The document contains 3 annexures providing indemnity for different NEFT transaction errors made by a remitting bank branch. Annexure I is an indemnity for multiple NEFT transactions credited erroneously to a beneficiary account. Annexure II is an indemnity for excess funds credited to a beneficiary account due to an incorrect amount in a NEFT transaction. Annexure III is an indemnity for an erroneous NEFT transaction credited to the wrong beneficiary account number. The remitting bank requests return of the funds and indemnifies the beneficiary bank against any losses arising from reversal of the payment instructions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22K views3 pages

    Indemnity Letter For Wrong Neft-1-1

    Uploaded by

    Avinash Chandra
    The document contains 3 annexures providing indemnity for different NEFT transaction errors made by a remitting bank branch. Annexure I is an indemnity for multiple NEFT transactions credited erroneously to a beneficiary account. Annexure II is an indemnity for excess funds credited to a beneficiary account due to an incorrect amount in a NEFT transaction. Annexure III is an indemnity for an erroneous NEFT transaction credited to the wrong beneficiary account number. The remitting bank requests return of the funds and indemnifies the beneficiary bank against any losses arising from reversal of the payment instructions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Annexure-I

    INDEMNITY OF MULTIPLE NEFT (INWARD/OUTWARD) CREDIT


    Date:

    To
    The Branch Manager / Head
    ------------------------ (Name of Beneficiary Bank Branch)
    ------------------------ (Name of Beneficiary Bank)

    Subject: Multiple NEFT to Beneficiary account of your Branch

    Dear Sir/Madam,

    Our ---------------------------------- (Name of Remitting Branch) Branch has erroneously initiated


    NEFT -------------- (No of times) on ---------------- (Date of transaction) with Ref No / UTR No
    --------------------------------------- which has been settled to your bank. We request you to arrange to
    return the fund urgently to remitter account number ------------------------------------- with
    --------------------------------- (Name of the Remitting Bank) --------------------------- (IFSC Code) on priority
    and confirm us returned transaction Ref No / UTR No.

    Transaction Details are as follows:

    Details Original Transaction Multiple Transaction Multiple Transaction


    Details Details Details
    Sender IFSC
    Sender Name
    Sender A/c No
    Beneficiary IFSC Code
    Beneficiary Name
    Beneficiary A/c No
    UTR No
    Amount
    Date of Transaction

    ------------------------------------------- (Remitting Bank Name) hereby indemnifies and keeps


    ------------------------------------------------ (Beneficiary Bank Name) indemnified, hold, save and harmless
    and indemnified at all times hereafter from and against all liabilities, losses, damages, costs, charges
    and expenses which -------------------------------------------- (Beneficiary Bank Name) may sustain, incur or
    suffer or to be put to or become liable by reason or as a consequence of reversal of the above
    payment instruction.’’

    Yours Truly,

    (Authorized Signatory)

    -------------------------- (Name of the Authorized Signatory)


    -------------------------- (Employee ID/ PF No)
    -------------------------- (Bank Seal)
    -------------------------- (Telephone or Mobile No)
    Annexure-II

    INDEMNITY FOR EXCESS NEFT (INWARD / OUTWARD) CREDIT


    Date:

    To
    The Branch Manager / Head
    ------------------------ (Name of Beneficiary Bank Branch)
    ------------------------ (Name of Beneficiary Bank)

    Subject: Excess NEFT to Beneficiary account of your Branch

    Dear Sir/Madam,

    Our --------------------------------------- (Name of the Remitting Bank) Branch has erroneously


    remitted the below mentioned funds with wrong amount i.e. INR --------------------/- instead of INR
    ----------------/- on -------------------- (Date of Transaction) with Ref No /UTR No.
    ----------------------------------- Which has been settled to your bank. We request you to arrange to
    return the funds urgently to remitter account number ----------------------------------------------- with
    ---------------------------------- (Name of the Remitting Bank) ---------------------------- (IFSC Code) on priority
    and confirm us retuen transaction Ref No /UTR No.

    Transaction Details are as follows:


    Sender IFSC
    Sender Name
    Sender A/c No
    Beneficiary IFSC Code
    Beneficiary Name
    Beneficiary A/c No
    UTR No
    Wrong Amount
    Correct Amount
    Date of transaction

    ------------------------------------------- (Remitting Bank Name) hereby indemnifies and keeps


    ------------------------------------------------ (Beneficiary Bank Name) indemnified, hold, save and harmless
    and indemnified at all times hereafter from and against all liabilities, losses, damages, costs, charges
    and expenses which -------------------------------------------- (Beneficiary Bank Name) may sustain, incur or
    suffer or to be put to or become liable by reason or as a consequence of reversal of the above
    payment instruction.’’

    Yours Truly,

    (Authorized Signatory)

    -------------------------- (Name of the Authorized Signatory)


    -------------------------- (Employee ID/ PF No)
    -------------------------- (Bank Seal)
    -------------------------- (Telephone or Mobile No)
    Annexure-III

    INDEMNITY FOR ERRORNEOUS NEFT (INWARD / OUTWARD) CREDIT

    Date:

    To
    The Branch Manager / Head
    ------------------------ (Name of Beneficiary Bank Branch)
    ------------------------ (Name of Beneficiary Bank)

    Subject: Erroneous NEFT to Beneficiary account of your Branch

    Dear Sir/Madam,

    Our ---------------------------------- (Name of Remitting Branch) Branch has erroneously initiated


    one NEFT payment on ----------------- (Date of Transaction) with Ref No /UTR No.
    ---------------------------------------------- Which has been settled to your Bank. We request to you to
    arrange to return the funds urgently to remitter account number ---------------------------------------- with
    ------------------------------------ (Name of the Remitting Bank) ------------------------------ (IFSC Code) on
    priority and confirm us return transaction Ref No /UTR No.

    Transaction Details are as follows:

    Sender IFSC
    Sender Name
    Sender A/c No
    Beneficiary IFSC Code
    Beneficiary Name
    Wrong Beneficiary A/c No
    Correct Beneficiary A/c No
    UTR NO
    Amount
    Date of Transaction

    ------------------------------------------- (Remitting Bank Name) hereby indemnifies and keeps


    ------------------------------------------------ (Beneficiary Bank Name) indemnified, hold, save and harmless
    and indemnified at all times hereafter from and against all liabilities, losses, damages, costs, charges
    and expenses which -------------------------------------------- (Beneficiary Bank Name) may sustain, incur or
    suffer or to be put to or become liable by reason or as a consequence of reversal of the above
    payment instruction.’’

    Yours Truly,

    (Authorized Signatory)

    -------------------------- (Name of the Authorized Signatory)


    -------------------------- (Employee ID/ PF No)
    -------------------------- (Bank Seal)
    -------------------------- (Telephone or Mobile No)

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