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TMI BlogGeneral Bond (with Surety/Security) to be executed by the 100% EOUs/Units in the EHTP/STP/FTZX X X X Extracts X X X X X X X X Extracts X X X X ..... nt in the sum of Rs. ___________Rupees _________only) for which payment to be well and truly made, we, the obligors, bind ourselves by these presents. WHEREAS we the obligors have been granted by the Government an Industrial licence for setting up a Hundred Percent Export Oriented Undertaking for - the manufacture of goods for export out of India on the terms and conditions, stipulated in the letter of intent No. _________dated __________and we the obligors have duly accepted the said terms and conditions. AND WHEREAS the Assistant Commissioner of Customs/Central Excise at _________________has licensed/ authorised the premises at as a private warehouse/unit wherein the dutiable goods, imported/sourced indigenously by us from time to time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... set-out, which conditions we the obligors hereby accept, to carry on manufacturing operations in relation to the said imported goods. AND WHEREAS the Assistant Commissioner of Central Excise, Customs or proper officer under section 67 of the Customs Act, or Assistant Commissioner of Central Excise or such other delegated authority as the case may be, under rule 13 of the Central Excise Rules, 1944 has permitted the obligors to remove the said goods from the said unit without payment of duty and despatch the same by air, sea, rail or road for export to foreign countries without payment of duty and when required bona fide to do so, or other EOUs /warehouses subject to the prescribed conditions set out for the due arrival of the said goods a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by depositing the cash/ securities as aforementioned. NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT 1. We, the obligors shall, observe all the provisions of the Customs Act, 1962, Central Excise Act, 1944 and the rules and regulations made there under in respect of the said goods. 2. We, the obligors shall, pay on or before a date specified in a notice of demand all duties" and rent and charges claimable on account of the said goods under the Customs Act; 1962, Central Excise Act, 1944 and rules/regulations made there under together with interest on the same from the date so specified at the rate applicable. 3. We, the obligors shall, discharge all duties and penalties imposed for violation of the provisions of the Customs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer / Assistant Commissioner of Central Excise or such other delegated authority, as the case may be for carrying out the purpose of the aforesaid regulations. 7. We, the obligors, shall maintain detailed accounts of all imported and indigenous goods used in the manufacturing processes and operations in proper form including of those remaining in stock and those sent outside under our obligation, and shall produce such accounts for inspection of the proper officer / Assistant Commissioner of Central Excise or such other delegated authority as the case may be when directed by him. 8. We, the obligors shall, provide to the officer of Customs/Excise stationed at the warehouse for control and supervision of the manufacturing processes and o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g by such officers. 12. We, the obligors, shall if the articles so manufactured are allowed to be sold in India in such quantity and subject to such other limitations and conditions as may be specified in this behalf by the Director General of Foreigt1 Trade, pay duty of Excise leviable on such articles under section 3 of the Central Excise Act, 1944; and shall pay duty of excise leviable on such articles under section 3 of Central Excise Act, 1944 and duty of Customs & Central Excise leviable on the Raw materials/Component parts used in the manufacture of such articles as are not allowed to be sold in India in accordance with the provision of Exim Policy. 13. We, the obligors, shall comply with the conditions and limitations stipulated i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section IIA of the Central Excise Act, 1944: Provided always that the liability of the surety hereunder shall not be impaired or discharged by reason of any time being granted or any forbearance, act or omission of the Government (whether with or without the knowledge or the consent of the surety) in respect of or in relation to the obligation and condition to be performed or discharged by the obligor(s) nor shall it be necessary to sue the obligor(s) before suing the surety for amounts hereunder. AND the President of India shall, at his option, be competent to make good all the loss and damages from the amount of the security deposit or by endorsing his rights under the above written bond or both; I/WE further declare that this bond ..... X X X X Extracts X X X X X X X X Extracts X X X X
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