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    PNB Financial Center

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    Mariline Lee
    This document is a Deed of Indemnity between heirs of a deceased depositor and a bank. The heirs requested the bank to release funds from the deceased's deposit accounts to them based on an estate settlement instrument. The bank agreed to release the funds on the condition that the heirs indemnify and hold the bank harmless from any claims regarding the release of funds. The heirs voluntarily executed the Deed to indemnify, release and discharge the bank from any liability arising from releasing the funds to the heirs.

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    PNB Financial Center

    Uploaded by

    Mariline Lee
    2K views2 pages
    This document is a Deed of Indemnity between heirs of a deceased depositor and a bank. The heirs requested the bank to release funds from the deceased's deposit accounts to them based on an estate settlement instrument. The bank agreed to release the funds on the condition that the heirs indemnify and hold the bank harmless from any claims regarding the release of funds. The heirs voluntarily executed the Deed to indemnify, release and discharge the bank from any liability arising from releasing the funds to the heirs.

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    This document is a Deed of Indemnity between heirs of a deceased depositor and a bank. The heirs requested the bank to release funds from the deceased's deposit accounts to them based on an estate settlement instrument. The bank agreed to release the funds on the condition that the heirs indemnify and hold the bank harmless from any claims regarding the release of funds. The heirs voluntarily executed the Deed to indemnify, release and discharge the bank from any liability arising from releasing the funds to the heirs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views2 pages

    PNB Financial Center

    Uploaded by

    Mariline Lee
    This document is a Deed of Indemnity between heirs of a deceased depositor and a bank. The heirs requested the bank to release funds from the deceased's deposit accounts to them based on an estate settlement instrument. The bank agreed to release the funds on the condition that the heirs indemnify and hold the bank harmless from any claims regarding the release of funds. The heirs voluntarily executed the Deed to indemnify, release and discharge the bank from any liability arising from releasing the funds to the heirs.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    PNB Financial Center

    Pres. Macapagal Blvd, Pasay City

    DEED OF INDEMNITY

    This Deed of Indemnity (the “Deed”) is made and executed by:


    ____, [nationality, civil status], of legal age, with residence address at [address]

    ____, [nationality, civil status], of legal age, with residence address at [address]

    ____, [nationality, civil status], of legal age, with residence address at [address]

    ____, [nationality, civil status], of legal age, with residence address at [address]

    (hereinafter collectively referred to as “Indemnitor” regardless of number

    -in favor of-

    PHILIPPINE NATIONAL BANK, a universal banking corporation duly organized and


    existing under Philippine laws, with principal office at PNB Financial Center, Pres. Diosdado P.
    Macapagal Boulevard, Pasay City, Metro Manila, and a branch at [name of branch] (the
    “Indemnitee”);

    WITNESSETH: That –

    WHEREAS, the Indemnitor, being the heir/s of [NAME OF DECEASED DEPOSITOR] (the
    “Deceased Depositor”) who died on [DATE OF DEATH] requested the Indemnitee to release in
    his/her/their favor, the funds in the following deposit account/s (the “Deposit Account”
    regardlessof number) of the Deceased Depositor:

    by virtue of the [NAME, DATE AND NOTARIAL DETAILS, IF ANY, OF ESTATE SETTLEMENT
    INSTRUMENT – e.g. Extrajudicial Settlement of Estate, Affidavit of Self-Adjudication or Last Will
    and Testament] (the “Estate Settlement”) ;

    WHEREAS, the Indemnitee’s agreement to release the funds in favor of the Indemnitors is
    subject to the condition that the Indemnitor shall indemnify and hold the Indemnitee free and
    harmless from any claims, actions and liabilities arising from the Indemnitee’s release of the
    funds in favor of the Indemnitor;

    NOW, THEREFORE, for and in consideration of the foregoing premises which are essential
    conditions and integral parts of this Deed, and the mutual stipulations and covenants set forth
    below, the Indemnitor hereby fully, absolutely and irrevocably indemnify and hold free and
    harmless, and comprehensively releases and discharges, the Indemnitee, its successors-in-
    interest and assigns, stockholders, directors, officers, employees and agents, and all of the
    Indemnitee’s subsidiaries and/or affiliates, from any claims, demands, obligations, liabilities,
    and causes of action of whatever kind, nature, description or character, whether known or
    unknown, real or contingent, arising out of, incident to or in connection with the Indemnitee’s
    release of the funds in the Deposit Account in favor of the Indemnitor.

    The Indemnitor understands that this is a general release of any and all its claims against the
    Indemnitee and may be pleaded for the dismissal of any pending case and as a bar to future
    suits which the Indemnitor or any third party may bring in an court, office or agency of
    whatever jurisdiction as a result of or in connection with the Indemnitee’s release of the funds
    in the Deposit Account in favor of the Indemnitor.
    The Indemnitor hereby executes this Deed voluntarily and with full knowledge of his/her/their
    rights under the law.

    IN WITNESS WHEREOF, the Indemnitor has caused this instrument to be signed on ___ in ___.

    known to me to be the same person who executed the foregoing instrument, and
    acknowledged the same to be his/her free and voluntary act and deed.

    Said instrument refers to a DEED O INDEMNITY consisting of two (2) pages, including
    this page where the Acknowledgement is written, signed by the parties and the witnesses on
    the signature page thereof, initialled on the other pages, and sealed with my notarial seal.

    NOTARY PUBLIC
    Doc. No. _____;
    Page No. _____;
    Book No._____;
    Series of _____.

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