BOND UNDER NTFN. NO. ..............................

THE PRESIDENT OF INDIA THROUGH

THE DEPUTY COMMISSIONER OF CUSTOMS ICD

BY THIS BOND WE M/S ……………………, (HEREIN AFTER CALLED AS IMPORTER) WHICH EXPRESSION SHALL UNLESS REPUGNANT TO THE CONTACT MEAN AND INCLUDE OUR   SUCCESSOR/ HEIRS AND EXECUTES ADMINISTRATORS AND LEGAL REPRESENTATIVES ARE HELD AND FIRMLY BOND UNTO THE PRESIDENT OF INDIA (HERE IN AFTER CALLED THE PRESIDENT) WHICH EXPRESSION SHALL INCLUDE HIS SUCCESSORS AND ASSIGNS THE SUM OF RS......................................................LAWFUL MONEY TO BE PAID TO THE GOVERNMAENT OF INDIA FOR WHICH TO BE WELL AND TRULY   MADE WE THE IMPORTERS BIND OUR SELVES TO HE PRESIDENT.

WHERE UNDER THE CUSTOMS NTFN NO. .................................................... THE   CENTRAL GOVERNMENT HAS EXEMPTED CAPITAL GOODS SPECIFIED IN THE SCHDULE TO THE NTFN. FROM SO MUCH OF THE PORTON OF BASIC CUSTOMS DUTY AS IN EXCESS OF 5%  AND WHOLE OF ADDL. DULY OF CUSTOMS WHICH IS SPECIFIED IN THE CUSTOMS TARRIF ACT 1975 ON THE CONDITION THAT THE IMPORTER SHALL FULFILL THE EXPORT OBLIGATION FOR AN AMOUNT IN THE MANNER PRESCRIBED DURING THE PERIOD SPECIFIED THERIN AND ON FULFILMENT OF OTHER CONDITION SPECIFIED IN THE SAID NOTIFICATION AND THAT THE IMPORTER SHALL EXECUTE A BOND IN SUCH FORM AND FOR SUCH SUM AND WITH SUCH SURETY OR SECURITY AS MAY BE SPECIFIED BY THE DIPUTY COMMISSIONER OF CUSTOMS BINDING HIMSELF FOR THE SUM OF RS. ....................................... ALONG WITH INTEREST @ 15% P.A. WITH SUCH SECURITY AND CONDITIONS AS MENTIONED HEREINAFTER.

 WHERE AS THE IMPORTER HAS IMPORTED THE SAID CAPITAL GOODS FULLY SPECIFIED IN THE INVOICE, BILL OF ENTRY AND SCHEDULE TO THIS BOND FOR THE PURPOSE OF FULFILMENT OF EXPORT OBLIGATION IN THE MANNER AND IN THE PERIOD AS SPECIFIED IN THE  SAID NTNF.

CLEARED ON THE BASIC OF THE BOND AT 5% RATE OF CUSTOMS DUTY.  THEREON PERSUANT TO THE SAID NTFN NO. ..................AT THE TIME OF CLEARANCE OF THE SAID GOODS AND WHERE AS ON THE APPLICATION OF THE IMPORTER THE DUPETY COMMISSIONER OF CUSTOMS ACU GR VII. NEW DELHI (HERE IN REFFERED TO AS THE DEPUTY COMMISSIONER) HAS PERMITTED THE CLEARANCE OF THE SAID GOODS ON THE CONDITION THAT THE IMPORTER SHALL EXECUTE A BOND FOR THE DIFFERENCE OF THE CUSTOMS DUTY LEVIABLE ON THE SAID GOODS WITH THE INTEREST @ 15% P.A. AND BANK GUARANTEE.

NO..................................... DTD............................................. OF M/S A.S. COLLECTION FOR

RS. ...................................... BINDING THE IMPORTER TO FULFILL. EACH AND EVERY CONDITION OF THE NTNF. NO 44/2002 CUS DTD 19.04.2002. NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT.

1.   THE IMPORTER SHALL SUBMIT TO THE DUPUTY. COMMISSIONER WITHIN SIX                  MONTHS FROM THE DATE OF CLEARANCE OF THE IMPORTS. A CERTIFICATE FROM THE JURISDICTTONAL ASSIT. COMMISSIONER OF CENTRAL EXCISE OR A CHARTERED ENGINEER AS THE CASE MAY BE TO THE EFFECT THAT THE SAID CAPITAL GOODS HAVE BEEN INSTALLED IN THE IMPORTER FACTORY OR THE PLACE WHERE THE SERVICES SHALL BE RENDRED.

2.       THE IMPORTER SHALL FULFILL EXPORT ABLIGATTON OF EURO

.......................................................... EQUAL TO 5 TIMES OF CIF VALUE ON FOREIGN EXCHANGE BASIC OR AS SPECIFIED IN THE LICENCE/OR SUCH SUM AS SPECIFIED BY THE LICENCING AUTHORITY WITH IN A PERIOD OF 8 YRS FROM THE DATE OF ISSUE OF THE E.P.C.G. LICENCE, IN SUCH PROPORTON AS SPECIFIED IN THE SAID NTFN.

3.      THE IMPORTER SHALL PRODUCE WITH IN 30 DYS OF EXPIRTY OF EACH BLOCK OF TWO YRS ACERTIHCATE FROM THE CONCERED LICENCING AUTHORITY SHOWING EXTENT OF EXPORT OBLIGATION FULFILLED ALONG WITH CERTIFIED COPIES OF EXPORT DOCUMENT    TAKEN INTO CONSIDERATION TOWARDS FULFILLMENT OF XPORT OBLIGATION.

4.      THE IMPORTER SHALL WITHIN 3 MONTHS PAY THE AMOUNT

EQUAL TO THE PROPORTION OF DUTY ALONG WITH INTEREST @15% P.A. FROM THE DATE OF CLEARANCE OF GOODS CORRESPONDING TO THE PROPORATION OF EXPORT OBLIGATION UNFULFILLED. WHERE THE EXPORT OBLIGATION OF ANY PARTICULAR BLOCKS OF TWO YEARS IS NOT FULFILLD.

5.    THE IMPORTER SHALL FORTH WITH PAY THE FULL AMOUNT OF

THE BOND ALONG WTTH INTEREST @15% IF HE FAILED TO DISCHARGE MINIMUM OF 25% OF THE EXPORT OBLIGATION PRESCRIBED FOR A PARTICULAR BLOCK OF TWO YRS FOR TWO CONSECUTIVE BLOCKS.

NOW IT IS HERE BY AGREED, ADMITTED AND DECLARED BY THESE PARTIES HERE TO AS FOLLOWS:

A.   THE DECISION OF THE SAID Dy COMMISSIONER AS TO WHETHER OR
NOT THE PROOF OF FULFILMENT OF EXPORT OBLIGATION HAS BEEN
PRODUCED BY THE IMPORTER TO HIS SATISFACTION SHALL NOT BE
DISPUTED BY THEM

B.    THE ABOVE WRITTEN BOND SHALL REMAIN IN FULL FORCE AND EFFECT AND SHALL NOT BE RECOVERABLE BY THE IMPORTER OR THE LIABILITY OF THE IMPORTERTER HERE UNDER SHALL NOT BE DISCHARGED ON ANY GROUND EXECPT AND UNLESS THE SAID DIPUTY COMMISSIONER BY ORDER IN WRITING DICHARGE THE BOND.

C.   THE PAYMENT OF THE AMOUNT OF BOND ALONG WITH INTEREST @15% P.A. SHALL NOT EFFECT LIABILITY OF THE IMPORTER TO ANY OTHER PUNISHMENT OR ACTION UNDER LAW.

D.   THIS BOND HAS BEEN EXECITTED UNDER THE ORDER OF THE CENTERAL OVERMENT AND/OR UNDER THE LAW IN PERFORMANCE OF THE ACT IN WHICH THE PUBLIC ARE INTERESTED. IT IS HERE BY AGREED THAT ANY AMOUNT THAT MAY BE DUE FROM US UNER THE BOND MAY BE RECOVERED IN THE MANNER LAID DOWN UNDER
SECTION 142 OF THE CUSTOM ACT 1962.

SCHEDULE

1.        Bill of entry NO.                                                     :

2.        Description of goods.                                           :

3.        CIF (Foreign currency)                                         :

4.        CIF in Indian rupees                                              :

5.        Assessable value                                                  :

6.        Normal Rate of duty                                              :

Vide noti no. 21/02, SR NO. 250 Item NO. 12     :                                                                           

7.         Amount of duty (with ref to 6)                             :

8.          Confessional rate of duty                                    :

9.         Amount of duty (with ref. to 8)                            :

10.           Differential duty (6-8)                                            :

11.           Bond amount inclusive of 15%interest

        For 8yrs                                                                    :                                                

12.           E.P.C.G. License No.                                              :

13.           License issuing authority                                     :

14.           Proportion of export value                                    :

15.           Description of goods to be exported  :

16.           Complete address of phylactery                          :     

17.           Jujurisdictional central excise Authority

a)    Commissioner central Excise

b)      Division & address

c)      Range & address

In witness there of the importer has here in subscribed this bond &. Seal
THE................ DAY....................... MONTHS........................... . YEARS

Signature of the authorized person.

Name & designation of signatory.

WITNESS (signature Name & Address)