BOND BY AN EMPLOYEE WITH SURETIES FOR THE DUE PERFORMANCE OF DUTIES
KNOW ALL MEN BY THESE PRESENTS that we A son of Shri…………….resident of …….(Debtor) and B son of Shri …….resident of……..(Surety) bind ourselves jointly and severally to X Y Co. Ltd. In the sum of Rs ……….(Rupees ………) of lawful good money to be paid to the said company or their successors and assigns, for which payment we bind ourselves.
Signed by us by our hands on this ……….day of……..20……
WITNESSES
1 .
2. Signature……….
WHEREAS the said A has been appointed as Cashier in the office of X Y Co. Ltd. hereinafter referred to as the said company, on the ……..day…….and……
WHEREAS the said company has called upon the said A to execute a bond in favour of the said company with one surety for the faithful service by A as such cashier as aforesaid, and
WHEREAS the said A, and the said B surety have entered into the above written bond in the penal sum of Rs .……..conditioned for the due performance of his duties by the said A and for the indemnity of the said company against loss from the acts, defaults, negligence, misconduct, embezzlement of the said A.
NOW THE CONDITION of the above written bond is that the said A whilst in the service of the said X Y Co. Ltd. shall faithfully and honestly perform, discharge and fulfil the duties assigned to him without causing any injury, loss or damage by reason of any act, default, negligence,error in judgment, embezzlement, breach of duty and mismanagement and the said employee A and/or the surety or either of them shall indemnify and keep indemnified the said XY Co. Ltd. and their successors and assigns against all losses, damages, costs, charges and expenses, which the said company or their successors and assigns shall or may sustain by reason of any act, default, misconduct, neligence, error in judgment, breach of duty, embezzlement and mismanagement on the part of the said employee, then and in such event the above written bond shall become void and cancelled and be of no effect, otherwise the same shall remain in full force and effect.
Signed, sealed and delivered by the above mentioned parties on this …..day of ….20……in the presence of witnesses.
WITNESSES
1. ……………………
2. Debtor
……………..