Agreement to compensate for loss of share certificate.
This document serves as an agreement between the shareholder and the issuer and specifies the obligations of both parties in the event of a lost share certificate. It clarifies that the shareholder must provide a written indemnity to the issuer, accepting responsibility for any loss or damage that may arise from the replacement of the certificate. In return, the issuer agrees to issue a replacement certificate to the shareholder and indemnifies the shareholder against any future claims related to the lost certificate.
By executing this document, both the issuer and the shareholder can ensure that the replacement share certificate is issued in a legally protected manner, with clear terms and conditions regarding the responsibilities and liabilities of each party. It provides a framework for the smooth and secure process of replacing a lost share certificate while mitigating the risks and potential disputes that may arise from such situations.
The Indemnity for Lost Share Certificate document should be used by a company when a shareholder has lost their share certificate and requires a replacement. This document outlines the terms and conditions under which the company will issue a new certificate and provides indemnification to the company against any future claims related to the lost certificate.
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