Bottomry Bond[CD1] 

 

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)

 [CD1]Bottomry Bond