SURETY CUM TEST BOND
To,
The President of
India
,
The Deputy
Commissioner of Customs,
KNOW ALL MEN BY THESE
PRESENTS THAT I/we M/S …………………………… No. …………………………
hereinafter called the Importer (which expression shall include its
successors/heirs, executors, administrators and legal representatives) and
I / we ……. …………………….. (hereinafter referred to as the “Surety” (which expression shall include
our successor or successors) are held and firmly bound unto the President
of India hereinafter called the President (which expression shall include
his successors and assigns) in the sum of Rs. ……………………….. (Rupees
…………………………………………………………………... only) to be paid to the President for which
payment well and truly to be made we jointly and severally bind ourselves,
our successors, heirs, executors, administrators and legal representatives
firmly by these presents.
Sealed with our
seal(s) this day of
.
WHEREAS
The (Deputy/Assistant
Commissioner of Customs) Principal Appraiser at………………………………………...
(Hereinafter called the “Proper Officer”) has agreed to make provisional
assessment of the goods described in the Schedule below imported by the
importer pending submission of further documents and furnishing
information and or completion of further enquiries and / or chemical or
other test and the Proper Officer has agreed to allow clearance of the
goods subject to the importer of the goods subject to the importer’s
(production within one month from the date hereof a valid license to cover
the import of the goods mentioned in the Schedule or ) proving to the
satisfaction of Proper Officer that the Import Trade Control License No.
…………………………… produced by the importer is valid for and covers the entire
goods mentioned in the schedule below and upon the importer and the surety
agreeing to furnish such bond as is herein
contained.
NOW THE CONDITION of
the above written bonds is such that –
1) If the importer shall
within one month or within such extended period as the Proper Officer may
allow produce such documents and furnish such information as may be called
for the Proper Officer, and
2) If the importer pays
to the President the difference between the duty finally assessed and the
duty provisionally assessed in respect of the goods mentioned in the
Schedule below, and
3) If the importer
delivers, or causes to be delivered to the Proper Officer one month of a
demand being made by the Proper Officer a valid import license covering
the entire goods mentioned in the Schedule below,
and
4) If the importer pays
to the President any penalty and fine that may be adjudged in lieu of
confiscation of the said goods for importation of the goods or part
thereof without a valid import license.
Then the above written
bond shall be void and of no effect otherwise the same shall remain in
full force and virtue.
AND IT IS HEREBY
AGREED AND CLEARED By and between the parties as follows:
-
1) This bond is given
under the orders of the Central Government for the performance of an act
in which the public are interested.
2) This bond shall be
enforceable against the surety no with standing that proceedings have not
been taken against the importer.
3) The (Deputy/Assistant
Commissioner of Customs) …………….. or other officer of Government of India
shall have full liberty without reference to the surety and without
affecting the guarantee to postpone for any time or from time to time the
exercise of any of the powers and rights or any such exercise or
non-exercise by the (Deputy/Assistant Commissioner of Customs) ……… or
other officer of the Government of India without notice to or consent of
the surety or by reason of time being given to the importer or y any
variation or deviation in the terms between the President and the importer
or for any other forbearance, act or omission on the part of the
Government Officers to the importer which under the low relating to surety
would but for this provision have effect of releasing the
surety.
4) In order to give
effect to this guarantee the President shall be entitled to act as if the
surety was the principal debtor and the surety waive all right as surety
and other rights which may be inconsistent with the above
provisions.
5) The right of the
President to recover the said amount from the surety in the manner
aforesaid will not be affected or suspended by reason of the fact that any
dispute or disputes have been raised by the importer with regard to the
liability or that any proceedings are pending before any Officer, Tribunal
or Court with regard thereto or in connection
therewith.
6) The guarantee herein
contained shall not be determined or affected by the liquidation or
winding up of the importer.
7) The President through
the (Deputy/Assistant Commissioner of Customs) …………. or other officer may
recover the said sum of Rs. ……………. In the manner laid down in sub-section
(1) of Section 142 of the Customs Act, 1962 without prejudice to any other
mode of recovery.
8) The surety has power
to give this guarantee in favour of the President and the signatory of
this bond on behalf of the surety has full power to sign this
bond.
IN WITNESS WHEREOF the
importer and the surety have herein set and subscribed their respective
hands and seals the day, month and year above
written.
SIGNED AND DELIVERED
by and on behalf of the importer at
New
Delhi
in the presence of:
-
1) ………………………………………
2) ………………………………………
SIGNED AND DELIVERED
by and on behalf of the surety at ……………………. In the presence
of:-
1) ………………………………………
2) ………………………………………
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