Instalment Money Bond

Instalment Money Bond

Know all men by these presents, we the undersigned, viz., AB, son of etc., hereinafter referred to as the borrower of the first part and CD, son of etc., hereinafter referred to as the surety of the second part are by these presents held and firmly bound unto and in favour of EF, son of etc., hereinafter referred to as the lender in the sum of Rs. …………… of good and lawful money of the Republic of India for which payment to be truly and faithfully made by instalments in the manner provided in the schedule below and for that purpose we, the undersigned AB and CD, bind ourselves, our respective heirs, executors, administrators and representatives.

Sealed with our seal, dated this ……………… day of ………… 19………

Whereas the borrower AB approached the lender EF for a loan and/or accommodation of Rs. …………… to be repaid with interest of …………% per annum by installments in the manner hereunder indicated and secured by a bond in terms hereunder contained. Now the condition of this above-written bond or obligation is such that if the borrower AB or the surety CD or either of them shall repay or cause to be repaid the said sum of Rs. ………… with interest thereon at …………% in the manner hereunder indicated, then and in such an event the bond or obligation shall be void and stand automatically cancelled, otherwise the same shall remain in full force and virtue.

Schedule of Instalments

Signed, sealed and delivered                                                                                             AB

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