Definitions for "Indemnity Bond"
Insurance bond from a company allowing financial reimbursement in the case of a lost or stolen security. Also known as Surety Bond.
An insurance bond taken out by a mortgage provider as additional security to cover loan amounts of over approximately 75% of the property value
An insurance bond taken out by the lender as additional security, depending on the size of the loan.
An insurance policy that protects the state from future claims against property once paid to a claimant.
This protects the lender against you defaulting on your loan. It is charged by most lenders if you borrow more than 70-80% of the value of the property.
An upfront one-off fee charged by most lenders if you borrow in excess of 70-80% of the house value to protect them against you defaulting on the loan.
An agreement to hold a carrier harmless with regard to a liability.