Bottomy Bond Deeds Shipping And Transport 2024 Legal Draft Template
| Category | Deeds Shipping And Transport |
| Format | Rich Text |
| File name | Bottomy bond-Deeds-Shipping And Transport-2024.rtf |
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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.
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Bottomy bond
THIS BOND is executed on this ……….day of ……….20 ……….by A, son of ……….Shri ……….Master of the ship ……….having official number and I am held and firmly bound to in the sum of Rs . ……….for which payment will and truly to be made to the said ……….their successors and assigns, I hereby bind myself, my heirs, successors, administrators, executors and legal representatives firmly by these presents.
AND for the further security of the said …………I, the said A do hereby pledge the said ship and her freight, apparel and cargo on board on the said ship and I hereby declare that the said ship, her freight, apparel and cargo on board are thus pledged for the security of the money advanced to me by the said …………and until payment of this bond is made with interest, the said ship and cargo shall not be pledged or mortgaged by me to any other person.
WHEREAS the above named ship requires repairs and accessories, for which the aforesaid amount is urgently required. AND WHEREAS the owners of the said ship, the shippers and consignee of the cargo on board of the said ship, having refused to provide the money required for the said repairs and accessories, 1, the above named A, has been compelled to borrow the said money at bottomry and has received the said sum from the …………the sum of Rs .......which sum is to run at bottomy on the hull and freight of the above named ship from the port of …………on a voyage to the port of @…………% for the voyage.
NOW THE CONDITION OF THE BOND IS that if the above named A, his heirs, successors, administrators, executors and legal representatives shall pay or cause to be paid to the said …………their successors and assigns, the sum of Rs . …………together with the interest due thereon within …………days after the safe arrival of the ship at her place of discharge in the port of …………or in case the said ship be lost during the said voyage, then and in such an event this obligation and pledge shall be void and of no effect, otherwise it shall remain in full force and effect.
Three bonds of the same tenor and date have been executed and in case one of which is accomplished, the others shall be void and of no effect.
WITNESSES Signed, sealed and delivered at …………on this …………
1. day of…………20 2.
Signature of the master
Signature of the master