BOTTOMRY BOND EXECUTED BY THE MASTER OF A SHIP TO SECURE REPAYMENT OF MONEY BORROWED DURING COURSE OF THE VOYAGE
BY THIS BOND I _______________ [master] of the ship [name of vessel] of the port of [Madras] official number _____________ for myself are held and firmly bound unto [lender] (hereinafter called the lender) in the penal sum of Rs. ________ for the payment of which well and truly to be made unto the said lender I hereby bind myself firmly by this bond.
AND for further security of the said lender I the said [master] do by this Bond pledge the said ship and her freight together with her tackle and apparel [and also the cargo now on board the said ship and it is hereby declared that the said ship and her freight and cargo] are thus pledged for the security of the money advanced to me and shall be pledged or mortgaged to no other person until payment of this Bond is first made with the interest that may become due thereon.
IN WITNESS WHEREOF I have hereunto set my hand and seal this ________ day of __________, 20____.
WHEREAS the above-named ship having been compelled to put into the port of ________ for repairs and necessaries and the owners of the said ship and her freight and the shippers and consignees of the cargo on board of her having refused to provide the money wherewith to pay for the said repairs and necessaries the above bound [master] hath been compelled to borrow at bottomry and hath received of the lender the sum of Rs. _________ which sum is to run at bottomry on the hull and freight of the said ship from the port of _______ on a voyage the port of [Madras] (having permission to touch stay at and proceed to all ports and places within the limits of the voyage) at the rate of [twenty five] per cent for the voyage.
NOW THE CONDITION OF THIS OBLIGATION is such that if the above bound [master] or his legal heirs shall pay unto the lender his legal heirs or assigns the sum of Rs. ________ being the principal of this bond together with the interest [@________% p.a.] which shall become due thereon within [thirty] days after the safe arrival of the ship at her place of discharge in the port of [Madras] or if the said ship is lost on the said voyage then this obligation and the pledge shall be void and of no effect otherwise to remain in full force and effect.
SIGNED, SEALED AND DELIVERED In the presence of:
- ___________
- ___________
[Signature and seal of master]
[Signature and seal of leader]
