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  • Security Bond

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    Mr. [NAME] has been appointed as the manager of certain properties by M/s. [COMPANY NAME]. As a term of the appointment, Mr. [NAME] is required to provide a security bond of Rs. [AMOUNT] to ensure faithful management of the properties. The bond binds Mr. [NAME] to pay up to Rs. [AMOUNT] if any amount is found due from improper management. Additionally, Mr. [NAME] charges his property described in the schedule as security for payment up to Rs. [AMOUNT] in the event of failure to pay any amount due from management of the properties.

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    Mr. [NAME] has been appointed as the manager of certain properties by M/s. [COMPANY NAME]. As a term of the appointment, Mr. [NAME] is required to provide a security bond of Rs. [AMOUNT] to ensure faithful management of the properties. The bond binds Mr. [NAME] to pay up to Rs. [AMOUNT] if any amount is found due from improper management. Additionally, Mr. [NAME] charges his property described in the schedule as security for payment up to Rs. [AMOUNT] in the event of failure to pay any amount due from management of the properties.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    445 views1 page

    Security Bond

    Uploaded by

    Jay
    Mr. [NAME] has been appointed as the manager of certain properties by M/s. [COMPANY NAME]. As a term of the appointment, Mr. [NAME] is required to provide a security bond of Rs. [AMOUNT] to ensure faithful management of the properties. The bond binds Mr. [NAME] to pay up to Rs. [AMOUNT] if any amount is found due from improper management. Additionally, Mr. [NAME] charges his property described in the schedule as security for payment up to Rs. [AMOUNT] in the event of failure to pay any amount due from management of the properties.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    of 1

    SECURITY BOND

    TO,

    M/s. ________________________

    WHEREAS I, Mr. __________________ the undersigned have been


    appointed by you as the Manager of your properties at __________________. and
    as a term of such appointment I have been required to give a security to the extent of
    a sum of Rs. ___________________ and which I have agreed to do.

    NOW THESE PRESENTS WITNESS that I


    Mr.____________________hereby bind myself to pay you a sum not exceeding Rs.
    _________ found due and payable by me in the management of the said properties.
    subject to the following condition.

    AND the condition of this Bond is that if I shall faithfully and honestly manage
    the said properties by doing all acts and things which I am authorized to do in terms
    of a General Power of Attorney given by you to me this day by a separate deed and
    shall at all times during the said management account for all the moneys, securities,
    and other property received, and expenses made, by me lawfully as the manager of
    your said properties and shall not cause loss or injury or damage to the said
    properties or in any way take or apply the same or any moneys, or security received
    in respect thereof either for my own use or for any purpose other than those for
    which the same have been received by me or entrusted to me and I shall render a
    correct and faithful account of the management of the properties to your satisfaction
    then this bond shall become void but otherwise it shall remain in full force and effect.

    AND THIS BOND FURTHER WITNESSETH that as a security for payment of


    my liability under this Bond but not exceeding the said sum of Rs. __________ I
    hereby charge my property consisting of a piece of land and a house thereon situate
    at __________________ and more particularly described in the Schedule hereunder
    written with the payment of any amount that may be found due and payable by me
    but not exceeding Rs. ___________ to you in the course of management of your
    said properties and I hereby covenant that in the event of my failure to pay to you the
    amount due and payable by me, if any, as aforesaid, you will be entitled to enforce
    the said charge by sale of the said property described in the Schedule hereunder
    written, through a competent court of law.

    THE SCHEDULE ABOVE REFERRED TO

    Signed and delivered by the


    within named Mr. __________

    WITNESSES;
    1.

    2.

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