English to German Bus/Financial Law (general)

Very strange indemnification agreement
Heading: Release of Funds
In consideration of xx Bank following your distribution instructions related to the In Trust For beneficiary form attached herto and made a part herof, the untersigned Beneficiary agrees to indemnify xx Bank from and against all and any liabilities, .... and legal fees arising out of or occasioned by xx Bank following your instructions.

These funds are being delivered to me, as an in trust for beneficiary pursuant to the above referenced In Trust For beneficiary form.

Ist der "in trust for beneficiary" ganz simpel ein "Treuhänder" ?