Indemnity for Export Negotiation

Indemnity for Export Negotiation

<p>[Customer’s letter head]</p><p>To: OCBC BANK (MALAYSIA) BERHAD (295400-W)</p><p>Date: </p><p>INDEMNITY FOR EXPORT NEGOTIATION (SPECIFIC)</p><p>My/Our ref No: Dated : for Currency and Amount in figures: Drawn on : Under LC No: Dated : Issued by : 1. In consideration of your agreeing to negotiate or purchase at my/our request the above bill(s) drawn under letters of credit notwithstanding all of the discrepancies between the documents presented and the terms of the said letters of credit, I/we hereby irrevocably and unconditionally:- (a) authorise you and your correspondents to give the drawee of such bill(s) such indemnity against all losses and consequences arising from such discrepancies as they may require in order to obtain acceptance and/or payment of the said bill(s); (b) undertake to indemnify and keep you and your correspondents fully indemnified from and against all demands, claims, liabilities, losses, costs and expenses whatsoever (including but not limited to legal costs on a solicitor and own client basis and any service tax payable) that may be incurred, sustained or paid by you and your correspondents arising from :- i) your having negotiated or purchased the said bill(s) notwithstanding such discrepancies; and ii) your and/or your correspondents having given such indemnity or indemnities pursuant to paragraph 1(a) above; (c) agree to refund to you on demand the value of the said bill(s) in the event of the non-acceptance or non-payment of the said bill(s); (d) agree to pay you all interest, bank charges, commissions and other costs as you may impose or charge in connection with this arrangement and hereby authorise you to debit my/our account with you for the same; and (e) where I/we are more than one person, confirm that my/our liabilities hereunder shall be joint and several. 2. This indemnity shall be binding upon my/our heirs, personal representatives, executors and successors-in-tile and permitted assigns. This indemnity shall be governed by the laws of Malaysia and I/we hereby irrevocably submit to the non-exclusive jurisdiction of the courts of Malaysia.</p><p>Authorised Signature(s) :</p><p>Date: </p><p>OCBC / GTF / EXP IND (SPECIFIC) / REVISED_19 JULY 2012 (ENG) </p>

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