EIGHTY RUPEES BOND

CONTAINER INDEMNITY BOND

THIS INDEMNITY BOND is executed at Chennai by (consignee’s Name,Address & PAN No………………, Represented by name of the authorized signatory) hereinafter called the CONSIGNEE and (Name,Address & Pan No of the clearing agent), hereinafter called the CLEARING AGENT jointly referred as INDEMNORS in favour of Hyundai Merchant Marine India Pvt Ltd., Chennai, hereinafter called the INDEMNIFIED.

Container No

B/L No & Date

Consignee

Arrived Per Vessel

Description of Cargo

IM No.& LN No.

Container Value: 3,00,000.00 per 20’Container ( Please do not change this line )

5,00,000.00 per 40’Container. ( Please do not change this line )

Container Lying at (CFS)

Port of Discharge

Date of Discharge: Likely Date ( Please do not change this line type as it is )

1. In consideration of your entrusting us the above referred container and to remove the above container discharged per (feeder vsl & voy ) and presently lying at (CFS name) to (place of destuffing) to enable us to conveniently destuff the cargo i.e. empty the same and receive the cargo therein contained at our premises, we the Indemnors (name of the consignee and Clearing agent) do hereby jointly expressly agree and undertake to pay all costs and remain responsible for all the consequences in relation to the lifting of the above container and destuff of the cargo and return the container to you safely.

2. We undertake to return the subject empty container to your nominated plot or as mentioned in the Delivery Order after the cargo was destuffed in good order and condition within FIVE/THREE days from the date of lifting the container from (CFS name). We also jointly undertake to ensure that utmost care shall be taken by us for the safe transit, handling during our custody and assure redelivery of the container and further undertake to settle such amount, as may assessed by the surveyors deputed by you, for any damage to the container, while in our custody till it reaches your plot / yard.

3. To reimburse to you all the costs, charges, duties, taxes and other expenses which may occur by reason and/or arising out and /or incidentals to such removals of the cargo and return of the container by us and that from the time of lifting the container till it is returned to your Plot/yard, shall be entirely at our own risk and costs. We hereby jointly undertake to indemnify you and hold you harmless against any or all claims whatsoever that may be directed upon you in connection with removal of the cargo and return of the empty container, within the stipulated time.

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4. To lift the container on receipt of your advice authorizing us to lift the container and any loss/damage which may be noticed in respect of our cargo in the said container, it will be on our account. But any loss/damage to the container after lifting till delivery shall be on our account.

5. To arrange for customs clearance of the cargo and indemnify you in respect of any duty and /or penalty levied in this regard particularly for which a show cause notice/ demand received from customs and government authorities and heavy penalties if any from them.

6. To pay the container detention charges as per the rates mentioned in the tariff annexed herewith, till the empty container is returned to your plot/yard. In the event of the container being damaged during the period it is in our procession, we undertake to bear all costs and expenses for repair of the container etc., as per the Surveyors estimation.

7. We undertake to return the container within FIVE/THREE days, from the time and date of lifting and in case we fail to return the container for whatever reasons, we further undertake to pay the detention charges, as per the tariff annexed herewith and we declare that we continue to be liable jointly to pay the detention charges till the container is returned to you.

8. We undertake to pay Rs.3,00,000/- & Rs.5,00,000/- for 20 ft & 40 ft containers respectively, which include the value of the container plus any customs plus any customs levy in case we fail to return the empty container.

9. We undertake to clear all outstanding charges for cancellation of this indemnity bond.

Dated at Chennai on this day ______, month, ________year_______________

1.

(Consignee.)

Seal & Signature

2.

(Clearing Agent)

Seal & Signature

Hyundai Merchant Marine I Pvt Ltd

(INDEMNIFIED) (INDEMNORS)