Assignment of bond debt
THIS DEED OF ASSIGNMENT is made the ________ day of _______.
BETWEEN
___________________________________________________ [insert the name, address etc. of assignor] [(hereinafter called the assignor) of the one part
and
__________________________________________________ [insert the name, address etc. of assignee] (hereinafter called the transferee) of the other part.
WHEREAS:
- __________________________________________ [insert the name, address etc. of Obligor] by a bond or obligation under his hand and seal dated the ______ day of _______ become bound to the assignor is the penal sum of Rs. ___________ with a condition thereunder written that such bond should be void on payment by the said [obligor] to the assignor of the sum of Rs. _________ with interest for the same at the rate of _______ per cent per annum at the times and in manner therein mentioned.
- The said sum of Rs. _________ with interest thereon from the _______ day of remains owing to the assignor on the security of the said bond.
- The transferee has agreed to pay to the assignor the sum of Rs. _________ upon having an assignment of the said bond and all principal and interest due and to become due thereon in manner hereinafter expressed.
NOW THIS DEED WITNESSETH that in consideration of the sum of Rs. ________ paid to the assignor by the transferee (the receipt whereof the assignor acknowledges) the assignor as beneficial owner assigns unto the transferee all that the said bond or obligation together with the said principal sum of Rs. ______ thereby secured and all interest now due and henceforth to become due for the same and all other monies hereafter to become payable by force or virtue thereof and the full benefit and advantage of the premises TO HOLD the same unto the transferee absolutely.
And the assignor hereby covenants with the transferee that the said principal sum of Rs. _________ and interest are still owing and the said bond is now in full force and valid and effectual.
IN WITNESS, etc.
[Signatures of assignor and assignee]
