Bond To Secure The Performance Of A Contract

Bond to Secure the Performance of a Contract

By this Bond I Mr. A residing at ___________ the Obligor acknowledge to be bound to pay to Mr. B the Obligee the sum of Rs____ on demand by the said Obligee.

Whereas by a Contract entered into between the Obligee and the Obligor, the Obligee has appointed the Obligor as a contractor to construct a building on the plot of land of Obligee situated at ____ in terms of the said contract.

and Where as the said contract provides that the Obligor will execute a bond in the sum of Rs____ for the proper performance of the said contract.

Now The Condition of this Bond is that If the Obligor contractor or his legal representatives or permitted assigns shall and will and truly, perform and fulfill and keep all and every covenant, clause, provision, term or condition in the said contract and on the part of the Obligor (Contractor) to be observed and performed according to the true purport and intent or meaning thereof, then this Bond shall be treated as void but otherwise it shall remain in full force and effect.

In Witness Whereof the Obligor has put his hand this ____ day of _______, 20__.

Signed and delivered by the

with in named Mr_______

WITNESSES;

1.

2.