Security Bond by an Employee with Sureties by Shiva.

Security Bond by an Employee with Sureties

BY THIS SECURITY BOND we, A.B. (Employee) of, etc. . . . . . . . . . . and C.D. (First Surety) of, etc. . . . . . . . . . . and E.F. (Second Surety) of, etc. are firmly bound to G.H. (Employer) of, .etc. . . . . . . . in the sum of Rupees . . . . . . (Rs. . . . .) only to be paid to the said Employer, his heirs, successors and assigns for which payment well and truly to be made we bind ourselves, and our heirs executors, administrators and representatives jointly, severally and respectively.

WHEREAS the above-bounden A.B. was on the . . . . . . . . . day of . . . . . . ., 20 . . . . . . . . ., appointed to and now holds and exercises the office of . . . . . . . .;

AND WHEREAS by virtue of such office the said Employee has and by virtue of any other office to which the same Employee may hereafter be appointed from time to time is likely to have amongst the various duties, the care of and responsibility of the safe and proper storing and keeping money, currency, shares and other valuable papers, documents and goods and property belonging or which may hereafter belong to the Employer in places under the care and control of the Employee;

AND WHEREAS the said Employee is bound to show and afford full facility of supervision and check to the Employer or any person appointed by him and is bound to keep or cause to be kept a true and faithful account of the said properties;

AND WHEREAS in consideration of the said Employee being appointed or hereafter transferred or promoted the said A.B. and the said C.D. and E.F. as the said A.B’s. Sureties have entered into the above-written Bond in the sum of Rupees . . . . . . . . . (Rs . . . . . . . . .) only conditioned for the due performance by the said A.B. of the duties of his said office and of any other office which the said A.B. may for the time being hold and the other duties appertaining thereto or which may be lawfully or usually required of him, and for the indemnity of the Employer, his heirs, executors, administrators or assigns against all losses from the acts or defaults of the said Employee.

NOW THE CONDITION of the above-written Bond is such that if the Employee has, whilst he had held any office under the employ of the Employer, always duly performed and fulfilled the duties of such officer and other duties aforesaid or if the said A.B., C.D. and E.F. shall indemnify the Employer, his heirs, executors, administrators or assigns from all and every loss and damage caused to the Employer from any act, omission, neglect of the said A.B. in the course of his duties then the above-written Bond or obligation shall be void and of no effect, otherwise the same shall be and remain in full force and virtue:

PROVIDED it is hereby mutually agreed and declared that neither of the two Sureties, the said C.D. and E.F., shall be at liberty to terminate their suretyship except upon giving to the Employer . . . . . . . . . month’s notice in writing of his or their intention so to do, and their joint and several liability under this Bond shall continue in respect of all omissions and defaults on the part of the said A.B. until the expiration of the said period of notice.

IN WITNESS to the above-written Bond we have hereto set our hands this . . . . . . . . . day of . . . . . . . . ., 20 . . . . . . . . .

Sd. A.B.

Witness:                                                           ??Employee.

Sd. C.D.

First Surety.

S.d. E.F.

Second Surety.

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