Format of Bond for Letter of Credit
To,
_____________,
_____________.
The owner agent or master of the _______
Goods : _________
Bill of loading No. : _________
Invoice No. & date : _________
Value : _________
Qty : _________
Mark : _________
Loading Port : _________
Discharge port : _________
The above cargo were shipped on the above vessel _________. and consigned to order, but the bill of loading has not yet arrived.
We hereby request you to give delivery of the said cargo to _________. _________, in accordance with our request.
- To indemnify you, your servants and agents and to hold all of you harmless in respect of any liability Loss, clamage or expense of whatsoever nature which you may sustain by reason of delivering the cargo to _________, accordance with our request.
- In the event of any proceeding being commenced against you or any of your servants or agents in connection with the delivery. The cargo as aforesaid, to provide you or them on demand with sufficient funds to defend the same.
- To pay you on demand the amount of any loss on which the master/agent of the vessel or any other of your servants of your servants or agents whatsoever may occur as a result of delivering the goods foreside.
- If the vessel or any vessel or property belonging to you should be arrested or detained or if the arrest or detention on thereof should be threatened to provide on demand such bail or other security as may be required to prevent such arrest or detention or to secure the release of such property and indemnity you in respect of any damage or express caused by such arrest or detention whether or not the same be justified.
- If called upon to do so at any time while the goods are in our custody, possession or control to delivery the same to you.
- To produce and deliver to you the Bills of lading for the above goods duly endorsed as soon as documents shall have arrived.
- The liability of each and every person under this indemnity shall be joint and several and shall not be conditional upon you proceeding first against whether of not such person is a party to or liable under this indemnity.
- To produce the original bills of Lading within __ days from the date of issue of this Bond.
- The Bank Guarantee is valid for one year from the date of issue of this bond.
- This indemnify shall be constructed in accordance with English Law and each and every person liable under this indemnity shall at your request submit to the jurisdiction of the High Court of _________.
- Shipment against L/C No. _________
Yours faithfully
_________
_________