Banking · Legal Aspects of Banking
A customer loses a Fixed Deposit Receipt (FDR) and requests the bank to issue a duplicate. To protect itself from potential loss if the original is presented, the bank requires the customer to provide an indemnity bond. The customer, in this scenario, is legally the:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Beneficiary
- 2Principal Debtor
- 3Indemnified
- 4Indemnifier✓
Correct answer
Indemnifier
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