This is a letter of direction instructing the recipient to make payment to a third party. An indemnity is given to protect the recipient against any potential breach of anti-money laundering (AML) regulations. The sender agrees to indemnify the recipient for any loss incurred due to action on such direction for payment.
The document provides the details of the agreement and the contact details of the party receiving the payment.
How to use this Document?
All the parties should carefully read this document.
An individual may use this document as a template for instruction to the recipient to transfer payment to another person.
All relevant details, such as the account number, should be clearly stated in the letter.
How to Tailor the Document for Your Need?