BONDS

A Bond is a Deed voluntarily and unilaterally executed by a person who binds himself to another for the performance of certain act or for the payment of debt.
Categories of Bond:

  •     Ordinary Bond
  •     Administration Bond
  •     Bottomry Bond
  •     Custom Bond
  •     Indemnity Bond
  •     Respondentia Bond
  •     Security Bond

A law firm undertakes to draft various kinds of bond in the light of Indian Stamp Act, Contract Act 1872, Government Savings Bank Act 1873, India Succession Act 1928, Customs Act, maritime laws, banking laws, etc.
Types of Bonds:

  •      Simple Bond;
  •      Simple Bond with one or more sureties;
  •      Conditional Bond;
  •      Bond by a legal guardian;
  •      Security Bond;
  •      Bond to secure the performance of a contract;
  •      Bond to account for rents;
  •      Bond by an employee for engaging with a competitor;
  •      Bond for securing earnest money;
  •      Bond for Maintenance Guarantee;
  •      Bottamry Bond.

 

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