Recall of Funds Request and Indemnity In Respect of –
Originating Bank Account No. :
Receiving Bank Account No. : Amount : Transaction Date : Transaction Reference No. : Reason of Recall :
I/We represent and warrant to you that the above information is correct and that the said holder(s) of the receiving account has no claim over the Amount. I/We hereby request you to initiate actions relating to recall of the funds from the receiving account and to refund the Amount back to the originating account.
In consideration of you acting at our request to initiate the recall of funds and refund, I/we agree to indemnify you and keep you indemnified against all demands, actions, proceedings (whether groundless or not), liabilities, claims, damages, losses, costs and expenses (including without limitation legal fees on an indemnity basis) of whatever nature and howsoever arising that you may incur or sustain by reason thereof now or at any future time.
This letter shall be governed by and construed in all respects in accordance with the laws of the Republic of Singapore and I/we hereby agree to submit to the exclusive jurisdiction of the Courts of Singapore. A person who is not a party to this letter has no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any term of this letter.
I/We acknowledge that my/our request is subject to the holder(s) of the receiving account agreeing to Bank’s request for recall. I/We agree that you will have no responsibility or liability towards me/us if the holder(s) of the receiving account fails to return the funds to you.
I/We agree that you may debit any payment for bank charges and commission (if any) from this request prior to returning the funds back to originating bank account. I/We also agree that any refund to be made in a different currency shall be converted at your prevailing rate of exchange and subject to your bank charges and commission.
