Bottomry Bond
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 necessary provisions of oil and other articles and things and
carrying out repairs to the said ship required for the 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 .......
p.c. p.a. from the date hereof till repayment, I the said Mr. ...... by this bond
hypothecate the said ship and her freight together with her tackle and apparel
and also the cargo now on board of the said ship.
AND
it is hereby declared that the said ship and her freight and cargo are
hypothecated for the security of the moneys advanced by the said Lender and
they will be hypothecated or mortgaged to no other person until payment under
this ''Bond is made in full with interest as aforesaid.
IN
WITNESS WHEREOF I, the said Mr. ..... have put my hand this ..... day of
.......
MASTER OF THE SHIP
WHEREAS
the abovementioned ship having been compelled to put into the said Port of
..... for repairs, and necessaries as aforesaid and the owner of the said ship
and her freight and the shippers and consignees of the cargo on board the said
ship having failed to provide the moneys required to pay for the said repairs
and for carrying necessaries, I the Master of the ship have been compelled to
borrow the said amount at bottomry and have received from the Lender the said
amount of Rs. ...... and which is run at bottomry on the hull and freight of
the said ship from the said Port of .... on voyage to the port of ...... having
permission to touch and stay at and proceed to all ports and places within the
limits of the voyage at the rate of .... Per cent for the voyage.
Now
the condition of the Bond is that if I, the Master of the said ship or my
personal representatives shall pay unto the said Lender or his personal
representatives or assigns the said sum of Rs. ...... with interest accruing at
the rate and for the period aforesaid, within .... days after discharge at the
port of ..... being the port of destination or if the said ship is lost on the
voyage, then the obligation under this Bond and the hypothecation hereby
created shall be void and of no effect, otherwise to remain in full force and
effect.
(Signed by the Master)
