Bottomry Bond

Bottomry Bond

BY THIS BOND, I, AB of, etc., Master of the ship, etc., of the port of, etc., official number …………, am held and firmly bound to CD of, etc., in the sum of Rupees …………, for which payment will and truly to be made to the said CD, his heirs, executors, administrators and assign, I hereby bind myself, my heirs, executors and administrators firmly by these presents.

AND for further security of the said CD, I, the said AB, do by these presents pledge the said ship and her freight, together with her tackle and apparel (if necessary, add—and also the cargo now on board the said ship); and it is hereby declared that the said ship and her freight (and cargo) are thus pledged for the security of the money advanced to me, and shall not be pledged or mortgaged to any other person until payment of this bond is first made, with the interest that may become due thereon. Sealed with my seal at …………, this ……… day of …………

WHEREAS the above-named ship having been compelled to put into the port, of, etc., for repairs and necessaries and whereas the owners of the said ship and her freight, and the shippers and consignees of the cargo on board of her, having refused to provide the money required to pay for the said repairs and necessaries, the above-bound AB has been compelled to borrow at bottomry and has received from the said CD the sum of Rs. …………, which sum is to run at bottomry on the hull and freight of the said ship from the port of, etc., on a voyage to the port of, etc., (if necessary add—having permission to touch, stay at and proceed to all ports and places within the limits of the voyage), at the rate of …………… per cent. for the voyage: Now the condition of this bond is such that, if the above-bound AB, his heirs, executors or administrators shall pay or cause to be paid to the said CD, his heirs, executors, administrators or assign, the sum of Rs. ………… being the principal of the bond, together with the interest which shall become due thereon, within 30 days after the safe arrival of the ship at her place of discharge in the port of, etc., or in case the said ship be lost during the said voyage then and in such an event this obligation and pledge shall be void and of no effect, otherwise it is to remain in full force and effect.

Three bonds of the same tenor and date have been signed, the one of which being accomplished, the others to be void and of no effect.

Signed, sealed and delivered

at ………………………………

in the presence of:

Signature of the Master