BOND FOR PAYMENT OF MONEY BY INSTALMENTS

 

[Another form]

THIS BOND made this _______ day of ________, 20___, by _______________________________________ (insert the name, address etc. of obligor) (hereinafter ‘the Obligor’), witnesseth that the Obligor is held and firmly bound to ___________________________________ (insert the name, address etc. of obligee) (hereinafter referred to as ‘the Obligee’), in the sum of Rs. ___________ to pay to the said obligee with interest at the rate of ______% per annum.

THE CONDITION of these presents is that if the Obligor or his personal representatives, legal heirs, shall pay to the said obligee or his personal representatives, legal heirs, the sum of Rs._________ by the instalments following, that is to say:

1. The sum of Rs. _________ part thereof on or before the _____ day of ______ next,
2. the sum of Rs. _________ other part thereof on or before the _____ day of _______, 20_____, and the sum of Rs. _______ residue thereof on or before the _____ day of ______, 20_____ and shall also at the several times hereinbefore stipulated for payment of the said instalments of the said sum of Rs. _____ pay to the said obligee or his personal representatives, legal heirs, interest on the said sum of Rs.________, or such part thereof for the time being remains unpaid, at the rate of _____ % per annum (such interest to commence and be computed from the date of the above-written Bond) then the above-written Bond shall be void, otherwise the same shall remain valid and in full force and effect.

Dated, this ______ day of _______, 20_____.

Signed And Delivered by the Obligor In the presence of:

WITNESS:

1. _______________
2. _______________