see regulation 8

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........................... day of .......................in the year two thousand........................ Whereas the said ....................... has been authorized to act as a Customs Broker under section 146 of the Customs Act, 1962 (52 of 1962), and the said ....................... has agreed to enter into this bond as required by the Customs Brokers Licensing Regulations, 2018 (hereafter ref....

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....his employees have not been paid to the President of India then the above written bond shall be void; otherwise the same shall be and remain in full force and virtue and it is hereby agreed and declared that the President of India may apply the said sum of Rs. 5,00,000/- (Rupees Five Lakh) only deposited as aforesaid in making good to the President of India all and every sums due to the Government....