Indemnity Bond by Building Contractor

Indemnity Bond by Building Contractor

BY THIS BOND we, AB of, etc., (builder), and CD of, etc., (surety), are jointly and severally held and firmly bound unto EF of, etc., (owner), in the sum of Rupees …………, to be paid to the said EF or his heirs, executors, administrators or assigns, for which payment to be truly and faithfully made, we bind ourselves, and each of us, and also our respective heirs, executors, administrators or assigns, jointly and severally, by these presents.

Sealed with our seal ………………, this ………… day of ……………

WHEREAS the said AB has entered into a contract with the said EF to build and complete a certain dwelling house with buildings and out-buildings thereto (or, etc.) in accordance with the plans and specifications which have already been agreed upon and kept signed by the said AB and EF within ………………… calendar months from the date hereof, upon a piece or parcel of land, situate at, etc., for the sum of Rs. …………… and whereas it is expressly provided in the said contract that the said AB would enter into a bond with one surety in terms hereinbefore contained: Now the condition of the above-written bond or obligation is such that, if the said AB shall duly and punctually, within ………… calendar months aforesaid, build, complete and finish the said dwelling-house with the out-buildings thereto (or, etc.) in accordance with the said plans and specifications to the reasonable satisfaction of the said EF and his architect, or surveyor (delay caused by fire accident, mob violence, attack from the air or strikes of workmen or other major disturbances only excepted), Then, and in such an event the above-written bond shall be void, but otherwise it shall remain in full force and virtue.

In witness whereof etc.

Signed, sealed and delivered                                                                                           AB                                                                                                                                            CD

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