Individual Importation

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.... our successor or successors) 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 assessment of the goods....

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....ed in lieu of confiscation of the said goods for importation of the goods or part thereof without a valid import licence. Then the above written bond shall be void and of no effect otherwise the same shall remain in full force and virtue. AND IT IS HEREBY AGREED AND DECLARED by and between the parties as follows :-  (1) This bond is given under the orders of the Central Government for the performance of an act in which the public are interested.  (2) This bond shall be enforceable against the surety notwithstanding that proceedings have not been taken against the importer.  (3) The exercise of any of the powers and rights conferred on them by law or this bond and either to enforce or forbear to enforce any such powers an....