Bond By Debtor And Surety For Existing Liability Legal Draft Template
| Category | Agreements Bonds |
| Format | |
| File name | Bond by Debtor and Surety for Existing Liability |
Effortlessly craft professional legal documents with 500+ industry-standard templates and refine them using DraftPilot - your AI drafting copilot. Seamlessly upload, review, and compare multiple existing drafts side-by-side.
DraftPilot - GPT-powered editing under LegalDraft Studio · also part of your AI Studio plan Browse & download templates free - DraftPilot requires login + AI Studio
Industry-standard template for reference. Adapt it with DraftPilot (AI copilot), compare clause-by-clause in our comparison workspace, or download and edit offline. Consult a qualified advocate before filing or execution.
Draft Preview
This
bond is executed on this..day of..at . jointly by :1.
Mr. HR s/o BS r/o , hereinafter called the debtor and2.
Mr. RM s/o RM r/o .., hereinafter called the security.Whereas
Mr. HR has borrowed a sum of Rsfrom Mr. JS s/o Mr. BS r/o .
on.with an interest on 18% per annum.Whereas
the said sum was to be refunded alongwith interest latest by ..Whereas
the debtor failed to return the principal amount and interest within time.Whereas
the creditor has agreed not to institute a civil suit for recovery of the said
sum, provided some body stands as surety.I.
RM, above named, stand a surety and give this bond after the signature of
debtor and myself and agree that the debtor shall pay the said sum in 12
monthly instalments alongwith interest at the rate of 24% per annum.I
further agree that in case of failure to pay the money by debtor in time, the
whole amount shall become payable at once.Witnesses:1. Name
Signature .Address..
(HR)2.
Name Signature.Address..(RM)