The Deputy Commissioner of Customs

BOND UNDER NOTIFICATION NO. 43/2002 DATED 19.04.2002

Know all men these present that we............................................ Which expression shall include his successors, heirs, executors, administrators and legal representatives’ arc 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.................................... along with interest (a) 15% P.A. to be paid to the President for which payment well and truly to be made, we jointly and severally bind ourselves, heirs, executors and administrators and legal representatives firmly by the President. SIGNED THIS ………………….. Whereas under the Customs Notification No.43/2002 dated................ AND WHEREAS on the application of importers the Deputy Commissioner of Customs, New Delhi, hereinafter referred to as the said Deputy Commissioner ( which expression shall include the person for the time being performing the. duties of the Deputy Commissioner of Customs , New Delhi) has agreed to permit the clearance of the said material mentioned in the said schedule on the conditions that the importer shall furnish the bond executed by the importer and to be approved by this said Deputy Commissioner for a sum of Rs…………. along with interest @15% P.A. only with such conditions as are hereinafter mentioned.

NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT

1.     The importer shall deliver or cause to be delivered to the Deputy Commissioner of
Customs within six months from the date thereof such extended period as the said Deputy
Commissioner may in his absolute discretion deem fit, a certificate duly signed by any
authority or by such other person as the said Deputy Commissioner may from time to time
to the effect that the said material which shall at the entire satisfaction of the said Deputy
Commissioner of Customs produce proof as to the above effect.

2.     That all the conditions of the notification shall be fulfilled to the satisfaction of the Deputy
Commissioner of Customs.

The above bond shall be void and of no forces of otherwise the same shall remain and effect.

The Deputy Commissioner of Customs, or other officers of the Govt. of India shall liberty without effecting the guarantee to postpone for any time of from time to time exercise or any of the powers and any rights or any remedies against the importer surety shall not be released by any such exercise or non exercise by the Deputy Commissioner or other officer of the Govt. of India by reason of the time being given to Importer or any verification    or deviation in the terms Between the President and or any Govt. Officer to the Importer.       

The above written bond shall remain in force and effect and shall not be able by the importer or shall not be discharged whatsoever, before ............... that, if any claim or cause or action give time to such course or arise against the virtue of this bond before the expiry of the last mentioned date such claim enforceable against the importer not withstanding the fact that the claim is lodged the importer or by BOND is enforced against the importer after...................

Payment of amount of Rs...... Along with interest @15% P.A. shall not effect liability of the import or any other action under the law.