The Custom Bond Risk Duty Bond Sample
Custom Bond
In exercise of the order passed by the National Board of Revenue in pursuance of section 86 of the Custom Bond Acts, 1969 (iv of 1969), the from of to be executed under subsection (1) of the said section by the hundred percent export-oriented garment industry, i.e. a bonder, is as under :-
B O N D
No………………………………………………………………………….
I Mr. SSSS SSSS , Managing Director, of
M/S. Auto Garments Ltd. Kakrail Road, Mirpur,
Dhaka, Bangladesh.
Now of M/S. Auto Garments Ltd. Plot-2B/21, Kakrail Road, Mirpur, Dhaka, Bangladesh.
and C.D.. SSS SSS, Managing Director …
OF THE SAME PLACE, are jointly and severally bound to the president of Bangladesh, in the sum of Government TK.,3,00,00,000.00 (Taka three Crore only) to be paid to the President of Bangladesh for which we are jointly and severally bind ourselves and legal representatives.
The above bonder Mr. SSS SSSS, having applied to the appropriate officer of Customs at Dhaka for obtaining permission to lodge in the warehouse at Kakrail Road, Mirpur, Dhaka for a period of two years the following goods that is to say :-
| Marks & No. of Packages | No. & Description of Packages | Quantity / weight or measure | Description of Goods |
| AS PER BILL OF ENTRY |
| Import Value | Rate of Customs Duty | Amount of Customs Duty | Duty paid Value | Rate of Vat | Amount of Vat |
| AS PER BILL OF ENTRY |
Contd………P/2
– 2 –
Imported by sea/land/air from all authorised ports of entry/countries on board of the ship/ vehicle/aircraft and entered in the customs house books as no. of the Register of goods imported by sea/land/air.
The condition of this bond is that :-
If the M/S. Auto Garments Ltd. or their legal representative shall observe all; the provision of Customs Act, 1969 and the rules in respect of such goods to be observed by owners of goods warehoused, and by persons obtaining permissions to warehouse goods under the provisions thereof.
And if the said M/S. Auto Garments Ltd . Or their legal representatives shall pay to the appropriate officers of Customs at the Customs-Station of Dhaka all dues whether customs duties, warehouse dues, rent or other charges which shall be demandable or ,the said goods, or on account of penalties incurred in respect to them, within two years from the date of this bond, or within such further time as Commissioner of Customs, Customs House, Dhaka or the National Board of Revenue may allow in that behalf together with interest every sum at the rate of the eight percent per anum or such other rate for the relevant period as may be fixed by the National Board of Revenue from the date of demand there of being made in writing by the said officers.
And if, within the terms and conditions so fixed or allowed the said goods, or any portion thereof, having been removed from the said warehouse for home consumption or re-exportation by sea/land, or air, like the full amount of all customs duties, warehouse dues, rent and other lawful charges, penalties and interest demandable as aforesaid shall have been first paid on the whole of the said goods.
This obligation shall be void.
Otherwise, and on breach or failure in the performance of any part of this condition, the same shall be in full force; and
R I S K B O N D
In consideration of your granting us permission to transfer the following goods from jetty at Dhaka/Chittagong/I.C.D./Benapole/……………………………………………………………. to our bonded ware house cleared under cover of entry of consignment/consignments in the bond register and pass book of the relevant custom house/station under section 100 of the Custom Act, 1969. We M/S. Auto Garments Ltd . , DHAKA are jointly and severally bond to the President of People’s Republic of Bangladesh to pay duty and taxes as may be levied on the relevant consignment/consignments to be paid to the President of the People’s Republic of Bangladesh for which we jointly and severally bind ourselves and our legal representatives.
We further bind ourselves that we shall be liable for payment of duty and taxes involved in case of any loss or damage of imported raw materials from import stage to completion of export of finished goods.
In case of loss or damage of the entire consignment or any part thereof in transit during subsequent inter bond transfer this bond will be in full force.
This obligation shall be void otherwise and on breach or failure in the performance of any part of this condition the same shall be in full force; and
D U T Y B O N D
We(A.B.) M/S. Auto Garments Ltd . Plot-Mirpur of Bangladesh for which we jointly and severally bind ourselves and our legal representatives.
The above bonder Mr. SSS SSS Have applied to the appropriate officer in charge of the Customs House at Dhaka/Chittagong/I.C.D./Benapole/……………………………………..
and obtained permission to lodge in the warehouse of M/S. Auto Garments Ltd . For a period of two Years.
The condition of this bond is that :-
If the M/S. Auto Garments Ltd . or their legal representatives shall observe all the provisions of the Customs Act, 1969 and the rules in respect of such goods to be observed by owners of goods warehoused, and by persons obtain permission to warehouse goods under the provisions thereof.
If the said M/S. Auto Garments Ltd . or their legal representative shall pay to the appropriate officers of custom station at Dhaka/Chittagong/I.C.D./Benapole/……………….
………………………………………….. all dues whether customs duties, warehoused dues, rent and other lawful charges, which shall be demandable on the goods, or on account of penalties incurred in respect of them, within two years from the date of this bond within such further time as the Commissioner of Customs at Dhaka/Chittagong/I.C.D./ Benapole/… …………………………………………………………….or the National Board of Revenue may allow in that behalf together with on interest on every such sum at the rage of eight percent per annum or such other rate for the relevant period as may be fixed by the National Board of Revenue from the date of demand thereof being made in writing by the said officer.
And if, within the terms so fixed or allowed the said goods, or any portion thereof having being removed from the said warehouse for house consumption or re-exportation by sea, land or air, the full amount of all customs duties, warehouse dues, rent and other lawful charges, penalties and interest demandable as aforesaid shall have been first paid in the whole of the said goods.
This obligation shall be void; otherwise, and on breach or failure in the performance of any part of this conditions the same shall be in full force.
Witnesses : Signature of the bonder
1. ……………………………………..
2. ……………………………………….
3. ………………………………………..