RE-EXPORT BOND

Know all men by these present that whereas Commissioner of Customs, Mumbai herein after referred to as the said Commissioner, which expression shall include person for the time being performing the duties of the Commissioner of Customs, Mumbai has permitted clearance of goods in the schedule hereunder written. We ……………………………………………………….. represented in India by M/s ………………………………………………….. do bind ourselves and each of our heirs, executor, administrators and legal representative for the time being the sum of Rs…… (Rupees…………..Only) subject to the condition written below.

Now the condition of the above written bond are such that the said …………. their heirs representatives shall deliver or cause to be delivered to the said Commissioner within six months the proof of re-export of the consignment cleared vide bill of lading referred in the schedule.

If the said importer, their heirs or representatives or any of their shall in lieu of the production of such proof of re-export upon demand by the said Commissioner to any or cause to be paid to him on behalf of the President of India the sum of Rs ……….. (Rupees…………Only) as Customs Duty and towards its ITC restrictions.

The above written bond shall be void and of no effect otherwise the bond will be and remain in full force and virtue and it is hereby agreed and declared.

1.  That any forbearance on the part of the President of India or any other officer shall not in any way release the said importer and the surety of his heirs and representatives from his or their liability under the above written bond.

2.  That the payment of the amount of the bond will not affect the liability of the importer or to any other penalty or punishment provided by law.

3.  That the bond shall be enforceable against the surety notwithstanding that the proceeding have not been taken against the importer or any dispute or disputers raised by the Importer, with regard to the liability or that proceedings are pending before any office, tribunal or court with regard thereto in connection therewith.

4.  That the bond I entered into under the order of the Central Government for performance of the act in which the public are interested.

5.  The President of India through the Commissioner of Customs, Mumbai may recover the said sum of Rs ………. (Rupees…………….Only) in the manner laid down in sub-section (1) of section 142 of the Customs Act, 1962 without prejudice to any other mode of recovery.

Signed on Behalf of