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  • Respondentia Bond: Form No. 9

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    Sudeep Sharma
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    The document is a respondentia bond between a ship master and lender. It summarizes that: The master of a ship bound for [PORT] has taken out an emergency loan from a lender to pay for repairs and supplies needed to continue the ship's voyage. The master hypothecates the ship, its freight, tackle, apparel, and cargo as security against the loan. The bond obligates repayment of the principal plus interest within a certain time period, and notes that if the ship is lost, the obligation will become void.

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    The document is a respondentia bond between a ship master and lender. It summarizes that: The master of a ship bound for [PORT] has taken out an emergency loan from a lender to pay for repairs and supplies needed to continue the ship's voyage. The master hypothecates the ship, its freight, tackle, apparel, and cargo as security against the loan. The bond obligates repayment of the principal plus interest within a certain time period, and notes that if the ship is lost, the obligation will become void.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    32 views1 page

    Respondentia Bond: Form No. 9

    Uploaded by

    Sudeep Sharma
    The document is a respondentia bond between a ship master and lender. It summarizes that: The master of a ship bound for [PORT] has taken out an emergency loan from a lender to pay for repairs and supplies needed to continue the ship's voyage. The master hypothecates the ship, its freight, tackle, apparel, and cargo as security against the loan. The bond obligates repayment of the principal plus interest within a certain time period, and notes that if the ship is lost, the obligation will become void.

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    © All Rights Reserved
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    of 1

    3314

    Form No. 9

    Respondentia Bond
    BY THIS BOND, I Mr. ... Master of the ship by name ... registered at
    the Port of ... under No ... hold myself firmly bound unto Mr... carrying
    on business at ... (hereinafter referred to as the Lender) for repayment
    of the sum of Rs... being the amount lent and advanced by him to me for
    emergency buying necessary provisions of oil and other articles and things
    and carrying out repairs to the said ship required for the further voyage
    of the said ship from the Port of ... at which she is at present anchored.
    AND for security for repayment of the said amount with interest thereon
    at ... p.c. p.a. from the date hereof till repayment, I the said Mr... by this
    bond hypothecate the said ship and her freight together with her tackle
    and apparel and also the cargo now on board of the said ship.
    And it is hereby declared that the said ship and her freight and cargo
    are hypothecated for the security of the moneys advanced by the said
    Lender and they will be hypothecated or mortgaged to no other person
    until payment under this Bond is made in full with interest as aforesaid.
    IN WITNESS WHEREOF I, the said Mr... have put my hand this ...
    day of . . . .
    MASTER OF THE SHIP
    WHEREAS the abovementioned ship having been compelled to put into
    the said Port of ... for repairs, and necessaries as aforesaid and the owner
    of the said ship and her freight and the shippers and consignees of the
    cargo on board the said ship having failed to provide the moneys required
    to pay for the said repairs and for carrying necessaries, I the Master of
    the ship have been compelled to borrow the said amount at bottomry and
    have received from the Lender the said amount of Rs... and which is run
    at bottomry on the hull and freight of the said ship from the said Port of
    ... on voyage to the Port of ... having permission to touch and 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 the Bond is that if I, the Master of the said ship or
    my personal representatives shall pay unto the said Lender or his personal
    representatives or assigns the said sum of Rs... with interest accruing at
    the rate and for the period aforesaid, within ... days after discharge at
    the Port of ... being the port of destination or if the said ship is lost on
    the voyage, then the obligation under this Bond and the hypothecation
    hereby created shall be void and of no effect, otherwise to remain in full
    force and effect.
    (Signed by the Master.)
    ___________________
    Stamp duty is payable under Article 16 of the Indian Stamp Act.
    Stamp Duty, eStamping & Registration : See the Indian Stamp Act, 1899 (2
    of 1899), Rates of Stamp Duty in various States, eStamping and Compulsorily &
    Optionally Registrable Documents under the Registration Act, 1908 (16 of 1908) in
    respective later Part/Chapters on Stamp Duty, eStamping & Registration of Deeds
    & Documents

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