Execution of Bonds and guarantees - regarding

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....observations on the concept of execution and attestation of Bonds accepted by the Department under the Customs Act, 1962. 2. This is a case where the petitioner disputed its liability as a surety. The Hon'ble High Court of Gujarat in para 25 observed that " In law "execution" means signing, sealing and delivery of a document. The term "execution" may be defined as a formal completion of a deed.....

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....ned for and on behalf of the partnership concern by its partners and as witnesses by the very partners in their individual capacities. 3. Keeping in view the aforesaid Order of the Hon'ble High Court of Gujarat, it is emphasised that there is need to take utmost care while accepting bonds so as to avoid such issues in litigation. The Bonds should not only be signed properly by the executants an....