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    Indemnity For Good Faith Return

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    bradjane4

    Copyright:

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

    Indemnity For Good Faith Return

    Uploaded by

    bradjane4
    4 views1 page

    Original Title

    Indemnity for Good Faith Return

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    4 views1 page

    Indemnity For Good Faith Return

    Uploaded by

    bradjane4

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    To

    The Managing Director/Chief Executive


    United Bank for Africa PLC
    57 Marina
    Lagos

    INDEMNITY TO DEBIT MY/OUR ACCOUNT FOR EARLY SETTLEMENT OF FAILED/ DELAYED TRANSACTIONS
    IN GOOD FAITH BEFORE CHARGEBACK.

    This Indemnity is issued by ___________________________________________ (“________________”), of


    ______________________________________________________ in favour of UNITED BANK FOR AFRICA PLC
    (UBA) of UBA House, 57, Marina, Lagos.

    Whereas:
    i) I maintain account No.____________________with your bank and in response to my
    application, you agreed in good faith to settle the sum of …………….... being delayed
    and or failed transactions (e.g POS/ATM/etc.) pending credit/chargeback;
    ii) You however demanded that I should indemnify you against any losses arising from this
    accommodation.

    NOW, in consideration of UNITED BANK FOR AFRICA PLC agreeing to use its in-house funds to
    complete failed and or delayed transactions pending credit/chargeback, I,
    ____________________________________, hereby:

    1. irrevocably authorise UBA to reverse (without any prior notice to me) and/or to lien funds in
    my account until the reconciliation/ reversal of the failed/delayed transaction after
    chargeback.
    2. Irrevocably authorise UBA to set off; debit my account for interest or transfer any sum or
    sums standing to the credit of any one or more of my account(s) with you to recover any
    settlement made by you in good faith for delayed and/or failed transactions pending
    chargebacks;
    3. Undertake to indemnify and keep UBA indemnified against any damages, costs and
    expenses whatsoever including all legal and other costs, charges and other expenses you
    may incur by reason of your accommodating my request for early settlement of delayed or
    failed transactions in good faith.
    4. Agree that if I fail to pay on demand any sums payable hereunder, that interest shall accrue
    thereon at your Prime Lending Rate and that no delay or omission on your part in exercising
    any right power, privilege or remedy in respect of this indemnity shall be construed as a
    waiver thereof, nor shall any single or partial exercise of any other right, power, privilege or
    remedy preclude any further exercise of any right, power, privilege or remedy.
    5. Agree that my BVN be watchlisted if I fail to refund the sum extended to me after due
    confirmation that value was hitherto availed on the disputed claim.
    6. That the rights, powers, privileges or remedies provided in this indemnity are cumulative and
    not exclusive of any rights, powers, privileges or remedies provided by the law and this
    Indemnity shall be a continuing security.

    Dated this ………..… day of …………………………20___.

    Signed, Sealed & Delivered by

    ………………………………….
    NAME/SIGNATURE
    In the presence of:
    Name:
    Signature:
    Occupation:
    Address:

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