Test Bond

TEST BOND

To,,
The Commissioner of Customs,
ICD, TKD, New Delhi.

Know all men by these Presents that We, XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (hereinafter referred to as buyer) India hereinafter called the "Importer" (Which expression shall include its successors, heirs executors, administration and legal representatives) and ______________________________________________________ (hereinafter referred to as the "Surety" (which expression shall include his successor and assigns) in the sum of___________________________________________(Rupees __________________________________________________ Only .) to be paid to the "PRESIDENT" for which payment is well and truly to be made. We severally bind successors/heirs, our executors, administrators, legal representative and ourselves firmly by these present.

Sealed with our seal (s) this the ……..Day of …….……..2009

WHEREAS

THE ASSISTANT COMMISSIONER OF CUSTOMS/PRINCIPAL APPRAISER AT ICD, TUGLAKABAD, NEW DELHI (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 enquire and/or chemical or other test and the Proper Officer has agreed to allow clearance of the goods to the importer's (Production within one months from the date hereof a valid licence to the import of goods mentioned in the scheduled or)proving to the satisfaction of Proper officer that the Import Trade Control Licence No. _______________ produced by the importer is valid for the covers the entire goods mentioned in the scheduled below and upon the importer and the surety agreeing to furnish such bond as in herein contained.

NOW THE CONDITION OF THE ABOVE WRITTEN BOND IS SUCH THAT:

1. If the importer shall within six months or within such extended period as the proper officer may allow produce such documents and furnish such information as may be called for by the proper officer and
2. If the importer pays to the President the difference between the duty finally assessed and by the duty provisionally assessed in respect of goods mentioned in the schedule below and
3. if the importer delivers, or causes to be delivered to the Proper Officer which one month a demand being made by the Proper office a valid import license covering the entire goods mentioned in the scheduled below and
4. If the importer pays to the President any penalty and any fine that may be adjusted in lieu of confiscation of, the said goods for importation of the goods or part thereof without any valid import license.

THAT 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 DECLARED BY THE IMPORTER AS FOLLOWS:-

1. This is bond is given under the order 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 not with standing that the proceedings have not taken against the importer.
3. The Assistant Commissioner of Customs ICD/TKD or other office of the government of India shall have full liberty to postpone for any time of from time to time exercise or any of the power and rights conferred upon them by law or bond and whether to enforce or forebear to enforce any such power and rights or any remedy against the importer, and the surety shall not be realized by any exercise by The Assistant Commissioner of Customs, ICD, Tuglakabad, New Delhi or other officer of the Government of India without notice of consent of the surety or by the reason of time being given to the importer or by any variation or deviation the terms between the President and the importer or for any other forbearance, act of commission on the part of the Government officer to the importer which under the law relating to surety would but for this provision have the effect of releasing the surety.
4. In order to give effect to this bond the PRESIDENT shall be entitled to act as if the surety was the principal debtor and the surety waive all rights as surety and other rights, which may be inconsistent with the above provision.
5. The right of the PRESIDENT to recover the said amount from the surety, in the surety in the surety aforesaid will not be affected or suspended by reason of 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 there to or in connection herewith.
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 Assistant Commissioner of Customs ICD, Tuglakabad, New Delhi or any other officer recover the said sum of Rs. ___________ in the Manner laid down in subsection (1) Sec 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.

THE SCHEDULE ABOVE REFERRED

1. Bill of Entry No. Date : _____________________
2. Description of Goods : _____________________
3. Country of Origin : _____________________
4. Port of Shipment : _____________________
5. CIF Value : _____________________
6. Assessable Value : _____________________
7. Name of the Vessel : _____________________
8. Bond Value : Rs. __________________

In the whereof the importer and the surety have bears inset and subscribed thereof respective hands and sales.

Signed and delivered by and on behalf of the importer at New Delhi in presence of

WITNESS:

1.

2.

(Signature of Importer)

We XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX (hereinafter referred to as buyer) hereby stand surety to the above mentioned TEST BOND and notwithstanding anything contained herein before our liability is reserved to Rs ___________ and shall remain in force for the above period for which bond is furnished and is finally decided.