Format of bond to be taken from importers in case of clearances allowed in pursuance of orders of Court - Customs - F. No. 483/8/89-Cus.VII

Format of bond to be taken from importers in case of clearances allowed in pursuance of orders of Court F. No. 483/8/89-Cus.VII Dated 15-1-1991 Government of India Ministry of Finance (Department of Revenue) Central Board of Excise Customs, New Delhi Subject : Format of bond to be taken from importers in case of clearances allowed in pursuance of orders of Court. In view of the recommendations of the Public Accounts Committee in its 151st Report that the bond filed for the differential duty in respect of goods cleared in pursuance of Court's orders where stay is granted against recovery of duty should have the conditions that duty becomes recoverable immediately on vacation of stay orders and they should have a provision for enforcement immediately on vacation of the stay order of the Court or the final decision of the writ petition, whichever is earlier. A standard format for such a bond has been devised in consultation with the Ministry of Law. The format of the bond duly vetted by the Ministry of Law is enclosed. 2. It has been decided that all bond accepted in pursuance of Court's orders should be in the enclosed format and that this should be brought into force with immediate effect. You are requested to bring this to the notice of the trade and the importers for compliance. Form of Bond for Differential Duty of Customs KNOW ALL MEN BY THESE PRESENTS THAT I/WE Shri/ Smt./ M/s. ____________________of _____hereinafter called the "Importer" (which expression shall include his/her/our/its successors/successors in interest/heirs, executors, administrators, legal representatives and assignees) am/are/is held and firmly bound upto the President of India hereinafter called, the '"President" in the sum of Rs._______ (Rupees __________________________________ only) to be paid to the President for which payment well and truly to be made I/We bind myself/ourselves, my/our successors, respective successors/successors in interest 'heirs, executors, administrator's legal representative and assignees firmly by these presents. Signed/ Sealed with my/our seal (s) this____________________day of ______________ 19 ________________ Whereas in civil writ Petition/civil miscellaneous petition/Special Leave Application) No. __________ of 19___________ (entitled)____________ _______ v. Union of India and others, the Hon'ble. Court ___________ was pleased to pass an order on ___________ (hereinafter referred to as said Stay Order to the effect that the importer be allowed to clear the consignment of.____.(give full description of the goods, weight/quantity,, etc.) as per schedule annexed hereto arrived as per S.S. ________ on the "condition that the Importer furnish Bond and a Bank Guarantee for 100% of the differential duty claimed by the respondents to the satisfaction of the Collector of Customs, _________ before taking delivery of the goods. AND WHEREAS the Importer has agreed to bind himself/themselves/itself firmly fully and unconditionally to the President to pay immediately on demand, the aforesaid sum of Rs. ____________ in the event of vacation of the said stay order or in the event-of the decision adverse to the Importer- being given by the said Court or dismissal of writ .petition/Special Leave Application or any further Order' of the Court whichever is earlier. NOW THE CONDITION of the above written bond is such that if the Importer shall immediately, on vacation of the said stay order or in the event the decision adverse to the Importer being given by the said Court or dismissal of writ petition/Special Leave Application or any further Order of the said Hon'ble Court whichever is earlier, pay to the President on demand immediately the aforesaid sum of Rs. __________ (Rupees _______________ ___________only) then the above written bond shall be void and of no effect otherwise the same shall remain in full force and virtue. And it is hereby agreed and declared by the importer as follows :- This bond is given under the orders of the Central 1. Government for the performance of an Act in which the public are interested. The President through the Collector of Customs, 2. __________or other officer may recover the sum of Rs._____ in the manner laid down in sub-section (1) of Section 142 of the Customs Act, 1962 without prejudice to any other mode or recovery. IN WITNESS whereof the importer has herein set and subscribed/ affix his/their/its hand(s)/Seal(s) the day, month and year first above written. SIGNED SEALED AND DELIVERED BY and on behalf of the importer at ____________ in the presence of 1.___________________ 2.___________________ Accepted for and on behalf of the                President of India.                (Signature of Authorised Officer) In the presence of 1.______________________ 2.______________________ The conditions of the bond may be suitably modified on the basis of the actual terms and conditions of the order of the Court. In case of a Company or Registered firms, registered address of the company or the firm is to be mentioned. Strike out which is not applicable. In case of a Partnership firm all the partners or the partner having authority to bind other partners can only execute the bond. 1. BE No. and dated : 2. Shipper's Name : 3. Ships Name : 4. Importer's Name : 5. Invoce No. and date quantity and value : 6. Description of goods : 7. Port of shipment : 8. Country of Origin : 9. G/L No. date : 10. Import Licence : 11. Assessable value : 12. Amount of Customs duty claimed by the Department @ : 13. Amount of Customs duty claimed by the Importer @ : 14. Difference of amount of Customs duty : 15. Amount of Bank guarantee : 16. Amount of Bond for