|Updated at:||March 2010|
BY THIS BOND I, Mr. ...... Master of the ship by name..... registered at the Port of ......under No. ....... Hold myself firmly bound unto Mr. ...... carrying on business at ..... (hereinafter referred to as the "Lender") for repayment of the sum of Rs. ...... being the amount lent and advanced by him to me for emergency buying necessaries such as oil provisions and other articles and things and carrying our repairs to the ship required for further voyage of the said ship from the port of ..... at which she is at present anchored.
AND for security for repayment of the said amount with interest thereon at the rate of Rs. ........ percent per annum from the date hereof till payment, I the said Mr. ..... by this Bond hypothecate the cargo on board of the said ship.
AND it is hereby declared that the said cargo on the said ship at present lying is hypothecated as a security for the moneys advanced by the said Lender and it will be hypothecated to no other person until payment under this Bond is made in full with interest as aforesaid.
IN WITNESS WHEREOF I, the said Mr. ....... Master of the said ship have put my hand this ..... day of ............
Sd/- Master of the ship
WHEREAS the abovementioned ship having been compelled to put into the said port of ..... for repairs and purchasing necessaries as aforesaid and the owners of the said ship...
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