(Note:- see Central Excise (No.2) Rules, 2001)ANNEXURE-7
FORM B-2
GENERAL BOND (SURETY/SECURITY)
General Bond with surety/security for provisional assessment of goods to excise duty
(Rule 7)For surety
bond | I/We ...................................of............................ hereinafter called "theobligor(s)"
and ……………................. of………................hereinafter called "thesurety(ies)"/
am/are held and firmly bound to the President of India (hereinafter called the"President") in the sum of...........................rupees to be paid to the Presidentfor which payment will and truly to be made/ I/We jointly and severally bindmyself/ourselves and my/our respective heirs, executors/ administrators,legal representatives/successors and assigns by these presents :
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For
security
bond | I/We.................of....................hereinafter called "obligor(s)"I/am/are held andfirmly bound to the President of India (hereinafter called "the President" inthe sum of......................rupees to be paid to the President of India for whichpayment will and truly to be made, I/We jointly and severally bindmyself/ourselves and my/our respective heirs/ executors/ administrators/legal representatives/successors and assigns by these presents; Datedthis...................day of....................
WHEREAS final assessment of excise duty of ..................................(hereinafter called the "goods") manufactured/cured/warehoused by theabove bounded obligor from time to time could not be made for want of fullinformation as regards value/description/quality or of proof thereof or for thenon-completion of the chemical or other tests in respect thereof or otherwiseand whereas the obligor desires that the he should make provisionalassessment as per provisions contained in Rule 7 of the Central Excise(No.2) Rules, 2001;
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For
Security
Bond | AND WHEREAS the Commissioner has required the obligor to deposit assecurity for the amount of this bond/ the sum of ............................................rupees in cash (the securities as hereinafter mentioned of a total value of............................................. rupees endorsed in favour of the President andaccepted on his behalf by the Commissioner Deputy Commissioner,Assistant Commissioner, Superintendent of Central Excise/ namely.............................) and whereas the obligor has furnished such guaranteeby depositing with the Commissioner the cash/securities as aforementioned;The condition of this bond is that if the obligor and his representativeobserve all the provisions of the Central Excise Rules, 2001 and all suchamendments thereto as may be issued from time to time to be observed inrespect of provisional assessment of goods to excise duty under Rule 7;
And whereas the obligor(s) has /have furnished such guarantee bydepositing with the Assistant Commissioner of Central Excise or the DeputyCommissioner of Central Excise the cash/securities/bank guarantee asaforementioned.]
The condition of this bond is that if the obligor(s) shall observe all theprovisions of the Central Excise(No.2) Rules, 2001 or the provisions of otherrules made under the Central Excise Act, 1944 (1 of 1944) and all suchamendments thereto, as may be issued from time to time so far as theyrelate to the provisional assessment of duty
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For surety
bond only | And if all dues whether excise duty or other lawful charges, which shall bedemandable on the goods removed after provisional assessment to duty asshown by the Central Excise records, be duly paid into the treasury to theaccount of the Commissioner along with interest, if any, within ten days ofthe date of demand thereof being made in writing by the said Officer ofCentral Excise, this obligation shall be void.
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For
security
bond only | OTHERWISE and on breach or failure in the performance of any part of thiscondition, the same shall be in full force and virtue:
Provided always that the liability of the surety hereunder shall not beimpaired or discharged by reason of any time being granted or anyforbearance, act or omission of the Government (whether with or without theknowledge or the consent of the surety) in respect of or in relation to theobligation and condition to be performed or discharged by the obligor(s) norshall it be necessary to sue the obligor(s) before suing the surety foramounts hereunder;
AND the President shall, at his option, be competent to make good all theloss and damages from the amount of the security deposit or by endorsinghis rights under the above-written bond or the both;
I/We further declare that this bond is given under the orders of the CentralGovernment for the performance of enact in which the public are interested.In these presents the words imposing singular only shall also include theplural and vice versa where the context so requires;
IN THE WITNESS THEREOF these presents have been signed the dayhereinbefore written by the obligor(s) and the surety (ies).
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Signature(s) of obligor(s).
Date :
Place :
Witnesses
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| (1) | Name and Address | Occupation |
| (2) | Name and Address | Occupation |
Date :
Place :
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Signature(s) of surety (ies).
Date :
Witnesses
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| (1) | Name and Address | Occupation |
| (2) | Name and Address | Occupation |
Accepted by me this.............................day of .........................(month).................……..(year)
………………………………..of Central Excise, (Designation)
for and on behalf of the President of India.
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