To
The President of IndiaThrough:
The Commissioner of Customs
Chennai
KNOW ALL MEN BY THESE
PRESENTS that we,
_______________________, having its registered Office at
____________________________ carrying on business in the name of
_________________________ herein after called the ‘importer’ (which
expression shall
include its successors/heirs, executors administrators and legal
representatives) 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 Rupees _____________ only to be paid
to the President for which payment well and truly to be made, we,
_________________________, bind ourselves, our successors/heirs, executors
administrators and legal representatives firmly by these
presents.
Sealed with our seals this
13th day of August, 2004.
WHEREAS
the Assistant Commissioner of Customs, Chennai (hereinafter called the
Proper Officer) has agreed to make provisional assessment of the goods
imported from time to time by the Importer under Project Import pending
submission of further documents and furnishing information and/or
completion of further enquiries and/or chemical test and the proper
Officer has agreed to allow clearance of the goods subject to the
importer’s proving to the satisfaction of Proper Officer that the imported
goods are freely importable and upon the importer agreeing to furnish such
bond as is herein contained. NOW
THE CONDITION OF THE ABOVE WRITTEN BOND IS SUCH
THAT:-
1.
If the importer shall within twelve months from the date of
importation of the respective consignments or within such extended period
as the Proper Officer may allow in this behalf, produce such documents and
furnish such information as may be called for by the said Proper Officer,
and 2.
If the importer pays to the President on demand and without demur
difference between the duty finally assessed and the duty provisionally
assessed in respect of the goods imported from time to time, and
3.
If the importer pays to the President on demand and without demur
any penalty and pay fine that may be adjusted in lieu of confiscation of
the said goods for importation of the goods or part thereto 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, effect and virtue. AND
IT IS HEREBY AREED AND DECLARED BY the Importer 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 remain in force from the date hereof and the
obligation and liberty of the importer shall be a continuing one in
respect of all goods imported from time to time by the importer under
project import. 3.
The right of the President to recover the said amount from importer
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. 4.
The guarantee herein contained shall not be determined or affected
by the liquidation or winding up of the Importer and this bond shall be
valid till the finalization of the Project Import. 5.
The President through the Proper Officer or other officer may
recover the said sum of (100% CIF value) Rupees _____________ only or
portion thereof in the manner laid in sub-section (1) of Sec. 142 of
Customs Act, 1962 without prejudice to any other mode of recovery.
6.
The guarantee hereby given shall be continuing one and shall not be
revoked without the previous consent of the President or the Commissioner
of Customs, Chennai in writing. IN
WITNESS HEREOF the parties
hereto have hereunto set and subscribed the respective hands hereunto on
day and year above written. Signed
by For
and on behalf of the Importer
in the presence of
_________________________
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