ASSISTANT COMMISSIONER OF CUSTOMS
men by these presents that we M/s _______________________hereinafter
called the ‘IMPORTER’ (which expression shall include its successors,
heirs, executors, administrators and legal representatives) held and
firmly bound into the President of India (hereinafter called
the President which expression shall include his successors and assigns)
in the sum of Rs._________________________ to be paid to the President of
India for which payment will and truly to be made bind ourselves, our
successors, heirs, executors, administrators and legal representatives
firmly by these presents.
the Assistant Commissioner of Customs,
____________________(hereinafter called the Proper Officer) has agreed to
make provisional assessment of the goods described in the schedule below
imported by the importer pending decision of the special valuation branch
in regards to the valuation aspect for importer from parent office and the
proper officer has agreed to allow clearance of the goods subject to the
importer agreeing to furnish such bond as is herein contained.
THE CONDITION OF THE ABOVE WRITTEN BOND IS SUCH THAT:
If the importer shall within twelve months or within such extended period
officer may allow product such documents and furnish such information as
may be called for by the proper officer and
If the importer pays to the President the difference between the duty
finally assessed and the duty provisionally in respect of the goods
mentioned in the schedule below and
If the importer delivers or cause to be delivered to the proper officer
within one month of a demand being made by the proper officer a valid
import license covering the entire goods mentioned in the schedule below
the above written bond shall be void and of no effect otherwise the same
shall remain in full force and virtue.
IT IS HEREBY AGREED AND DECLARED by and between the parties as follows:
This bond is given under the orders of the Central Government for the
performance of an act in which the public are interested.
This bond shall be enforceable against the surety notwithstanding thet
proceedings have not been taken against the Importers.
The Assistant Commissioner of customs, IGI Airport New Delhi or other
officer of the Government of India shall have full liberty without
effecting the guarantee to postpone for any time or from time to time the
exercise of any of the powers and rights conferred of them by law or this
bond and either to enforce or forebear to enforce any such powers and
right or any remedy against the importer, and the surety shall not be
releaved by any such exercise or non exercise by the Assistant
Commissioner of customs, IGI Airport New Delhi or other officer of the
government of India without notice or corticent of the surety or by reason
of time being given to the importer or by on variation or deviation in the
terms between the President and the importer or for any other forebearance,
act or omission 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.
The President through the Assistant Commissioner of customs or other
officer may recover the said sum of Rs.
manner laid down in subsection(1) of section 142 of the customs act, 1962
without prejudice to any other mode of recovery.
thereof the importer and the surety have herein sent and subscribed their
respective hand and seals the day, month and year for at above written.
of entry No. & date :
Description of Goods :
Country of origin :
of shipment :
Assesable Value :
Licence No. :
Importer’s Name & Address :
Signed and delivered by and on behalf of the Importers