TMI BlogGeneral Bond (Form B-17) to be executed by the EOUsX X X X Extracts X X X X X X X X Extracts X X X X ..... uty , for export without payment of duty, for special procedure for removal of semi-finished goods for certain purposes and for special procedure for removal of excisable goods for carrying out certain processes, namely :- Form B 17 General Bond (with Surety/Security) to be executed by the Export Oriented Units /Units in the Electronic Hardware Technology Park/Software Technology Park/ Bio-Technology Park. 1. We, ...having our registered office at........................hereinafter referred to as the Obligors and ..called the surety(ies) (which expression shall, unless repugnant to the context or meaning thereof, include our heirs, successors, executors, administrators, liquidators, legal representatives and assignee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the duty. 5. AND WHEREAS the said Deputy or Assistant Commissioner of Customs or Central Excise has permitted the obligor to clear duty free imported goods from Ports/Airports/Inland Container Depots or Bonded Warehouses, as the case may be, to the export oriented unit. 6. AND WHEREAS the Deputy or Assistant Commissioner of Customs or Central Excise or such other delegated authority, as the case may be, under Rule 19 of the Central Excise Rules, 2017 has permitted the obligors to remove the said goods from the said unit without payment of duty and dispatch the same by air, sea, rail or road for export to foreign countries without payment of duty/tax and when required bona fide to do so, or other EOUs/Warehouses subject to the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Deputy Commissioner, Assistant Commissioner, Superintendent of Customs or Central Excise, namely ..) and whereas the obligor has furnished such guarantee by depositing the cash/securities as afore mentioned. NOW THE CONDITIONS OF THE ABOVE WRITTEN BOND ARE THAT 1. We, the obligors shall observe all the provisions of the Customs Act, 1962 , Central Excise Act, 1944 and the rules and regulations made thereunder in respect of the said goods. 2. We, the obligors shall, pay on or before a date specified in a notice of demand all duties, and rent and charges claimable on account of the said goods under the Customs Act, 1962 , Central Excise Act, 1944 and rules/regulations made thereunder together with interest on the same from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvices. 7. We the obligors shall maintain detailed accounts of all imported and indigenous goods used in the manufacturing processes and operations in proper form/ digital form, as prescribed, including of those remaining in stock and those sent outside under our obligation, and shall produce such accounts for inspection of the proper officer, Deputy or Assistant Commissioner of Customs or Central Excise or such other delegated authority, as the case may be, when directed by him. 8. We, the obligors, shall fulfill the export obligation and conditions stipulated in Customs or Central Excise Notifications, under which the specified goods have been imported/procured, as well as the Foreign Trade Policy and to pay on demand an amount equa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall pay the duty of Customs Central Excise leviable on the raw materials, component parts used in the manufacture of such articles as are not allowed to be sold in India in accordance with the provisions of the said Foreign Trade Policy. 12. We, the obligors, shall comply with the conditions and limitations stipulated in the said Foreign Trade Policy or the Deputy or Assistant Commissioner of Customs or Central Excise permitting the goods imported into India or procured indigenously for the purpose aforesaid or the articles manufactured or package therefrom to be taken outside the undertaking temporarily, without payment of duty, for testing, repair, re-conditioning, processing or display etc. 13. We, the obligors, shall not chang ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r(s) nor shall it be necessary to sue the obligor(s) before suing the surety for amounts hereunder AND the President of India shall, at his option, be competent to make good all the loss and damages from the amount of the security deposit or by endorsing his rights under the above written bond or both; I/We further declare; that this bond is given under the orders of the Central Government in the performance of an act in which the public are interested; In these presents the words imposing singular only shall also include the plural and vice versa where the context so requires; IN WITNESS THEREOF these presents have been signed this day . of .. 20 .. hereinbefore written by the obligor(s) and the surety(ies). ..... X X X X Extracts X X X X X X X X Extracts X X X X
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