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hello friends welcome back in this video we are going to take a look at the term indemnity bond this term has been used very often by the builder promoter when it came to return of the maintenance deposit and it was used as a deterrent to avoid this transfer so let us take a closer look at what exactly is an indemnity bond what we want to find out is who should indemnify whom so lets first take a look at what indemnity means an indemnity bond is just an agreement a legal agreement between parties and it acts as a surety in order to secure some performance obligation which is guaranteed under a contract and the contract in question is our agreement to sell its a separate agreement it is not covered under the main contract such as the agreement to sell and its a three party contract let us see who those three parties are these three parties in the case of our maintenance deposits society and members is the purchaser the promoter and the society let us explore how these three parties