To Be Printed on

STAMP PAPER FOR Rs.100

100 % EOU – GENERAL BOND

KNOW WE ALL MEN BY THESE PRESENTS

We, Messrs. __________________________________________, having our registered office at _________________________________________________ hereinafter referred to as the Importers (which expression shall, unless repugnant to the context of meaning thereof, include our heirs, successors, executors, administrators, liquidators, legal representatives and assignees) hereby hold and firmly bind ourselves jointly and severally unto the  President of India, hereinafter referred to as the Government (which expression shall, unless repugnant to the context of meaning thereof, include his successors and assignors) in the sum of Rs._____________ (Rupees___________________________________________________ only).

 For which to be well and truly made we the importers bind ourselves by these presents.

 Signed, sealed and delivered by us the importers this ____ day of ______________,  in the presence of:

 Witness :-

 1.       Name           :       

          Address       :       

 2.       Name           :       

          Address       :       

Whereas we the Importers have been granted by the Government an Industrial Licence for converting our existing DTA unit into a 100% Export Oriented Undertaking for the manufacture of for export out of India on the terms and conditions stipulated in the letter of intent No. __________________________

_______________________ and we the Importers have duly accepted the said terms and conditions.

AND WHEREAS the Assistant Commissioner of Customs at ___________ has licensed the premises at ____________________________as a private warehouse wherein the dutiable goods specified in the table below, imported by us for manufacturing and exporting _____________ could be deposited for a period of five years without payment of duty on conditions hereinafter set out as specified on sub section (1) of Section 59 of the Customs Act, 1962 (hereinafter referred to as ‘the Act’) which conditions we the Importers hereby accept.

AND WHEREAS the said Assistant Commissioner of Customs has under sub-section (2) of section 59 of the Act permitted us the Importers to enter into a general bond, binding ourselves in a sum equal to twice the amount of duty assessed on the said goods as above written, for the purpose of sub-section (1) of the said section 59.

AND WHEREAS on compliance with the provisions of the said section 59 as aforesaid, the proper officer has made an order under section 60 of the Act permitting us the Importers to deposit the aforesaid goods in the said private warehouse without payment of duty.

AND WHEREAS pursuant to sub-section (1) of section 65 of the said Act, the said Assistant Commissioner of Customs has accorded sanction to us the Importers, on payment of the prescribed fee of Rs.NIL and the prescribed conditions hereinafter set out, which conditions we the Importers hereby accept, to carry on at the said warehouse for processes and operations of manufacturing and exporting of rubber parts in relation of the goods warehoused.

AND WHEREAS the proper officer under section 67 of the Act, has permitted as the Importers to remove the said goods from the said warehouse without payment of duty and despatch the same by air, rail or road, when required bona fide to do so to the warehouse located on the premises of _______________________________________________ subject to the prescribed conditions set out here in after for the due arrival of the said goods at the said warehouse at ________________________________ which conditions we the importers hereby accept.

AND WHEREAS the Government has exempted the said goods imported by us the Importers for manufacturing ___________________________ as here in before started for export out of India by us the Importers who have been approved for 100% Export Oriented Undertaking by the Board of Approval, from the whole of the duty of customs and additional duty, if any, leviable thereon, subject to the conditions hereinafter set out and specified in notification No.13/81 dated 09.02.1981 is amended up to date which conditions we the Importers hereby accept.

NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT :-

1. We the Importers shall observe all the provisions of the act and rules and regulations in respect of the said goods.

2. We the Importers shall pay on or before a date specified in a notice of demand all duties, and rent charges claimable on account of the said goods under the act, together with interest of the same from the same date so specified at the rate 10% p.a or such other rate as is for the time being fixed by the central board of excise and customs.

 3. We the Importers shall discharge all penalties incurred for violation of the provisions of the act, rules and regulations in respect of the said goods within a period of 30 days or five years as the case may be from the date of the order permitting the deposit the deposit of the said goods at the said warehouse without payment of duty or within such further time as may be extended by the Commissioner of Customs or by the said board on a specific request made by us the importers and also pay interest at a rate of 20% p.a. or such rate as is for the time being fixed by the board from the expirty of the above said period till the date of clearance of goods.

4.  We the Importers shall furnish to the Assistant Commissioner of Customs of Division – I evidence to his satisfaction within a period of three months from the date of despatch form the warehouse at Calcutta, Bangalore, Madras, Bombay, ICD/CFS, New Delhi, IG Air Cargo, New  Delhi, IG Air Cargo, New Delhi or any other place which further would be intimated to you that the said goods duly arrived at the warehouse at _________________________________________________.

 5. We the Importers shall be wholly and soley responsible for ensuring that there shall be no pilferage during transit of the said goods from the warehouse at Calcutta, Bangalore, Madras, Bombay, ICD/CFS, New Delhi, IG Air Cargo Complex, New Delhi or any other place which further would be intimated to you to the ware house at ____________________________________ and we the Importers shall pay the duty on the pilfered goods if any notwithstanding section 13 of the act.

 

6. We the Importers shall observe and comply with all the provisions of the manufacture and other operations in warehouse regulations, 1996 and such other condition as may be imposed by the proper officer for carrying out the purpose of the aforesaid regulations.

7. We the Importers shall maintain detailed accounts of all imported and other goods used in the manufacturing processes and operation in proper form including of those remaining in stock and shall produce such accounts for inspection of the proper office when directed by him.

8. We the Importers shall provide to the officers of customs stationed at the warehouse for central and supervision of the manufacturing process and other operations such amenities as may be specified by the proper officer.

9. We the Importers shall pay all charges including pay, allowance, leave and pensionery charges of such officer.

10.We the importers shall ………………………………

11.We the Importers declare that we the importers have been granted necessary licence for the Import of the said goods for the purpose of manufacturing rubber parts for being used in connection with the production and packaging of goods for export out of India.

12.We the importers shall carry out the manufacturing operations in Customs bond and subject to other condition may be specified by the Assistant Commissioner of Customs in the behalf.

13.We the Importers shall export out of India 100% or such other percentage as may be fixed the board of approvals manufactured wholly or partly from the said goods for the per-stipulated by the said board or such extended period as may be specified by the said board.

14.We the Importers shall on the clearance of five percent of the articles so manufactured or so other percentage as may be fixed by the said board which were allowed to be sold in India being the nature of rejects, pay a sum equivalent to the duty of excise payable on such article under section 3 of the Central Excise and Salt Act, 1944 which have not been exported.

15.We the Importers shall on the expiry of the period referred to in the condition 13 above, ……………….. pay the following duties namely:-

a)  Customs duty on capital goods material handling equipment, office equipment, …………….. power plants or as the case may be, captive generating sets, on depreciated value by at……. Rates prevalent at the time of debonding and

b)  Customs duty on unused Imported raw material or component on the value at the time of Import and at the rates in force at the time of clearance.

16.We the Importers shall fulfill the export obligations and conditions stipulated in notification No.13-Cus dated 09.02.1981 as amended up to date and in or under the Import and Excise Policy for 1st April, 1997 to 31st March, 2002, as amended amended from time to time, and to pay demand, an amount equal to the duty leviable on the goods as are not proved to the satisfaction of the Assistant Commissioner of Customs to have been used in the manufacture of articles export and any penalty imposed under the Customs Act, 1962.

17. We the Importers shall, for clearance of the scrap or waste arising in the course of manufacture of the said article, pay an amount equal to the duty which could have been leviable on the scrap on waste material had it been imported as such scrap or waste material.

18. We the importers shall not clear the scrap or waste material as aforesaid in excess of percentage fixed in this regard by the said Board, and we the Importers shall, if the scraft, waste material as aforesaid is cleared in excess in excess of the percentage fixed by the said Board, an amount equal to the duty on other material out of which the scrap or waste material arisen on the excess quantity.

19. We the Importers shall, if the article so manufactured are not exported out of India and allowed to be sold in India under and in accordance with the aforesaid Import and Export Policy as amended from time to time and in such quantity and subject to such other limiatations and conditions as may be specified in this behalf by the Director General of Foreign Trade,….. duty of excise leviable on such articles under Section 3 of the Central Excise and Salt Act 1944.

20. We the Importers shall comply with the conditions and limitations stipulated in the said Import and Export policy as amended from time to time or the Commissioner of Customs permitting the goods imported into India for the purpose aforesaid of the articles manufactured …… packaged therefrom to be taken outside the undertaking temporarily, without payment of duty for repairs, processing or display.

21. We the importers shall pay to the Government through the Commissioner of Customs at …………. Difference between the duty finally assessed and the duty provisionally assessed in respect the goods imported.

22.  We the Importers shall pay to the Government through the Commissioner of Customs ……. Penalty, if any, that may be adjudicated in lieu of the said goods for importation of the said goods or part thereof without a valid Import Licence.

If each and every one of the above condition duly complied with by us the Importers, the above written bond shall be void and of no effect; otherwise the same shall remain in full force an effect and virtue.

It is hereby declared by us the Importers and Government as follows:

1. The above written bond shall continue in force notwithstanding the transfer of the goods any other person or removal of the said goods any other person or removal of the said goods from one warehouse to another warehouse.

2. The above written bond is given for the performance of an act which the public as interested.

3. The Government through the Commissioner of Customs or any other officer of Customs recover the sum due from the importers in the manner laid down in sub section (1) Section 142 of the Act without prejudice to any other mode of recovery.

4. The validity of the above written bond is for 5 years from o2 day of September, 1999.

 TABLE 

Marks & Number

No. of Packages

Description of goods

Quantity

 

 

 

 

 

 

  

Assessable Value

Rate of duty

Amount of duty

 

 

 

 

 

 Signed, sealed and delivered by the Importers above named this ___ day of _____________ presence of:

 

1.       Name           :       

          Address       :       

 

2.       Name           :       

          Address       :