Continuity Bond

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..... , executors, administrators and legal representatives are held and firmly bound unto the President of India hereinafter called the President (which expression shall include his successors and assigns) in the sum of Rs................. (Rupees................) to be paid to the President for which payment well and truly to be made we jointly and severally bind ourselves, our successors/heirs, executors, administrators and legal representatives firmly by these presents. Sealed with our seal(s) this..................................... day of...................19.......... WHEREAS The [Assistant Commissioner of Customs]/Principal Appraiser at............ (hereinafter called the Proper Officer ) has agreed to make provisional assess .....

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..... al Government for the performance of an act in which the public are interested. 2.This bond shall remain in force for a period of............... months/years from the date hereof and the obligation and liability of the importer shall be a continuing one in respect of all goods imported from time to time by the importer between the period..................... and............... 3.This bond shall be enforceable against the surety notwithstanding that proceedings have not been taken against the importer. 4.The [Assistant Commissioner of Customs] .or other officer of the Government of India shall have full liberty without reference to the surety and without affecting the guarantee to postpone for any time or from time to time t .....

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..... sident through the [Assistant Commissioner of Customs]........ or other officer may recover the said sum of Rs.............. or a portion thereof 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. 9. The surety has power to give this guarantee in favour of the President and the signatory of this bond on behalf of the surety has full power to sign this bond. 10. The guarantee hereby given shall be a continuing one and shall not be revoked by the surety without the consent of the President or the #[Principal Commissioner of Customs or Commissioner of Customs, as the case may be]............ IN WITNESS WHEREOF the importer and the surety have herein .....

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