Bond

ANNEXURE - I
INDEMNITY BOND WITH SURETY
(TO BE STAMPED AS PER STATE STAMP RULES)
This Indemnity is made and executed at _________________on__ day of
__________20___ by Shri___________________ S/o Shri _________________ a
permanent resident of _____________________________________________ herein
called Employee, the party of the First Part,
AND
Shri _______________S/o Shri ___________________________________ a
permanent resident of _________________________________________________
__________________________________________________________________
hereinafter called Surety, the party of the Second Part, in favour of Sarva Haryana
Gramin Bank, a body corporate constituted under the Regional Rural
Banks Act, 1976 (21 of 1976) and Gazette Notification dated 29 th Nov., 2013 issued
by the Government of India, Ministry of Finance, Department of Economic Affairs
(Banking Division) having its Head Office at Rohtak hereinafter called Employer
Bank.
The terms Employee, Surety and the Employer Bank unless repugnant to the
context shall mean and include their heirs, legal representatives, successors,
executors and administrators
WHEREAS the Employee has been selected for appointment as Officer Middle
Management (Scale-II) / (Scale-III) in the service of the Employer Bank.
WHEREAS an Offer of Appointment containing the terms and conditions of the
appointment has already been issued to the Employee vide letter No.
HO/HRD/____/__________ dated ______________ of the Employer Bank
WHEREAS the acceptance of the terms and conditions of the appointment has
already been communicated to the Employer Bank on ___________________ by
the Employee.
WHEREAS one of the terms and conditions of the appointment is the Employee has
to serve the Employer Bank i.e. Sarva Haryana Gramin Bank for minimum period
of Three Years after appointment, has to execute an indemnity with surety in

favour of Employer Bank.
NOW THIS INDENTURE WITNESSETH as under:
1. In compliance of the aforesaid condition in Offer of Appointment subject to
which the Employer Bank has agreed to give appointment to the Employee,
the Employee hereby undertakes to serve the Employer Bank for a
minimum period of Three Years.
2 The party of the second part i.e. Sh.____________________________ S/o
Sh.___________________ agrees to stand as Surety for the due
performance of the obligation of the Employee under this agreement of
indemnity. In case of breach of the terms of this indemnity by the
Employee and failure to indemnify the Bank, the Surety shall be jointly and
severally liable to pay the amount of Rs. 2,00,000/- (Rs. Two Lakh only) to
Employer Bank immediately on demand.
3 The Employee further agrees and undertakes that in case he/she
commits breach of the above condition and resigns from or
leaves/abandons the service and/or neglects in performance of the
duty assigned to him leading to termination of his/her service as per
Rules and Regulations by the Employer Bank for all losses, costs,
charges and expenses upto extent of Rs.__________ lakh and pay an
amount of Rs. ______________ (Rs. _______________________) only
with the interest thereon @ 12 per cent per annum from the date of
breach of the above till payment as liquidated damages/cost of

training including on the job training, the employee at his/her place,
and also on account of business loss suffered/to be suffered by
Employer Bank during intervening period. The employee and surety
agrees that assessment of liquidated damages as assessed at Rs.
_____________are reasonable, which they both agree to pay jointly
and severally in case demand is made by the Employer Bank.
4. Notwithstanding anything contained herein above, furnishing of this
indemnity will not create any right in favour of the Employee to continue in
the service of Employer Bank for the aforesaid term of three years, and the
Employer Bank shall always have the right to take appropriate action
against the Employee as per terms of the appointment letter and/or the
Rules and Regulations of the Employer Bank as applicable, in case of
commission of any misconduct by the Employee.
5. The amount specified above shall constitute a debt owing to the Employer
Bank and shall be recoverable from the Employee and the Surety jointly and
severally with interest thereon at the rate specified above till payment.
IN WITNESS whereof, the EMPLOYEE and the SURETY have put their
signatures in the presence of the witnesses.
Signed and delivered by the Party of the First Part i.e. the Employee having
perused and understood the contents terms of this Agreement .

Signed and delivered by the Party of the Second Part i.e. the Surety having
perused and understood the contents/terms of the Agreement
1. WITNESS: EMPLOYEE SIGNATURE
NAME & ADDRESS: NAME & ADDRESS
2. WITNESS: SURETY SIGNATURE
NAME & ADDRESS: NAME & ADDRESS

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ANNEXURE - I

INDEMNITY BOND WITH SURETY

(TO BE STAMPED AS PER STATE STAMP RULES)

This Indemnity is made and executed at _________________on__ day of

__________20___ by Shri___________________ S/o Shri _________________ a

permanent resident of _____________________________________________ herein

called Employee, the party of the First Part,

Shri _______________S/o Shri ___________________________________ a

permanent resident of _________________________________________________

by the Government of India, Ministry of Finance, Department of Economic Affairs

executors and administrators

Management (Scale-II) / (Scale-III) in the service of the Employer Bank.

WHEREAS an Offer of Appointment containing the terms and conditions of the

HO/HRD/____/__________ dated ______________ of the Employer Bank

already been communicated to the Employer Bank on ___________________ by

of Three Years after appointment, has to execute an indemnity with surety in

NOW THIS INDENTURE WITNESSETH as under:

1. In compliance of the aforesaid condition in Offer of Appointment subject to

the Employee hereby undertakes to serve the Employer Bank for a

minimum period of Three Years.

2 The party of the second part i.e. Sh.____________________________ S/o

Sh.___________________ agrees to stand as Surety for the due

performance of the obligation of the Employee under this agreement of

indemnity. In case of breach of the terms of this indemnity by the

Employer Bank immediately on demand.

3 The Employee further agrees and undertakes that in case he/she

commits breach of the above condition and resigns from or

leaves/abandons the service and/or neglects in performance of the

duty assigned to him leading to termination of his/her service as per

charges and expenses upto extent of Rs.__________ lakh and pay an

amount of Rs. ______________ (Rs. _______________________) only

breach of the above till payment as liquidated damages/cost of

and also on account of business loss suffered/to be suffered by

Employer Bank during intervening period. The employee and surety

agrees that assessment of liquidated damages as assessed at Rs.

_____________are reasonable, which they both agree to pay jointly

and severally in case demand is made by the Employer Bank.

4. Notwithstanding anything contained herein above, furnishing of this

Rules and Regulations of the Employer Bank as applicable, in case of

commission of any misconduct by the Employee.

signatures in the presence of the witnesses.

perused and understood the contents terms of this Agreement .

perused and understood the contents/terms of the Agreement

1. WITNESS: EMPLOYEE SIGNATURE

NAME & ADDRESS: NAME & ADDRESS

2. WITNESS: SURETY SIGNATURE

NAME & ADDRESS: NAME & ADDRESS

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This Indemnity is made and executed at _______________on day of

________20_ by Shri___ S/o Shri _ a

Shri _S/o Shri _____________________ a

HO/HRD// dated ________ of the Employer Bank

amount of Rs. (Rs. _________) only