TRANSIT BOND UNDER SECTION 67 OF THE CUSTOMS ACT 1962
TRANSIT BOND NO.
U/S 67 OF CUSTOMS ACT, 1962
KNOW ALL MEN BY THESE PRESENT THAT WE M/S.__________________________________ __________________________ (hereinafter called the Owners, which expression shall include their successors, executors, administrators and legal representatives) are held and firmly bound upto the PRESIDENT OF INDIA (hereinafter called the Government, which expression shall include his successors and assigns) in the sum of Rs.____________________________________________________________ of lawful money of India to be paid to the Government, for which payment to be well and truly made. We, the Owners, hereby bind ourselves and seal with our seal Dated____________
We the Owners do hereby covenant with the Government that if any suit be brought touching the subject matter of this obligation or the conditions hereunder written in any court, subject to the Suprintendent of the High Court of Judicature, Mumbai othet than the said High Court in its original jurisdiction, the same shall and may, at the instance of the Government be removed, be tried and determined by the said High Court in its extraordinary original jurisdiction.
WHEREAS the owners Messrs.________________________________________________________ ______________________________________________________________________ applied to the Collector of Customs, Mumbai, the Chief Office of Customs of the said port; to permit the removal of the goods imported and fully described and specified in the schedule of this bond, from the warehouse at Mumbai to the Bonded Warehouse at ___________________________________________________________ on condition of the Owners executing the bond above written with such conditions as hereinunder written.
NOW the conditions of the above written bond are such that if the said Owners shall and will cause the said goods at______________________________________________________________________and to be there produced the proper Officer and duly re-warehoused at the said Bonded Warehouse at ______________________________________________________________________ within ninety days from the date of dispatch of the goods or cause the said goods to be otherwise accounted for to the satisfaction of such Officer and shall and will produce to the Collector of Customs, for the time being at Mumbai, a Certificate duly signed by the proper Officer of Customs at the said bonded warehouse at ______________________________________________________________________________ the whole of the goods having been re-warehoused at the bonded warehouse at ____________________________________________________________________________________ the said Owners Messsrs.
Shall and will, upon demand by the of proper Officer of the Government duly authorized on that behalf, pay to the said Government the full Customs duties payable upon, respect of all goods so permitted to be removed as storesaid, then the above written bond shall be void and have no effect, otherwise it shall remain in full force and virtue.
It is hereby agreed that any amount that is due from us under this bond may be recovered as laid down in sub-section (1) of Section 142 of Customs Act 1962.
The guarantee herein contained shall not be determined or affected by the liquidation or winding up of the Owners.
It is hereby declared that the bond has been executed in the performances of an act in which the public are interested.
SCHEDULE OF THE GOODS TO BE TRANSPORTED IN BOND
Name and address of the :
1) Name and address of the : ____________________________
Owners (Importers) ____________________________
2) Name of Vessel : ___________________________
IGM No. & ITEM No.
3) Description of goods & Quantity : __________________________
4) Invoice No. & Date : __________________________
5) Bill of Lading No. & Date : __________________________
6) CIF Value of goods (Rupees) : __________________________
7) Duty Assessable Value : __________________________
8) Customs Rate of duty and : _________________________
9) Bond Amount : _________________________
(SEAL AND SIGNATURE OF IMPORTER)