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Specimen of Surity Bond

The document is a surety bond for an employee, Shahid Amin, of Professional Employers (Private) Limited. It outlines the terms of the bond signed by Shahid Amin as the principal debtor, and Fiaz Shah as the surety. Fiaz Shah guarantees Shahid Amin will conduct himself according to company rules for the duration of his employment contract until December 2018 and will reimburse the company for any losses from Shahid Amin's negligence, fraud, or misconduct up to 1 lac rupees. The bond also extends to cover losses from Shahid Amin's indirect involvement in fraud and will remain valid even if his employment ends or he dies.

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Mian Badar
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364 views2 pages

Specimen of Surity Bond

The document is a surety bond for an employee, Shahid Amin, of Professional Employers (Private) Limited. It outlines the terms of the bond signed by Shahid Amin as the principal debtor, and Fiaz Shah as the surety. Fiaz Shah guarantees Shahid Amin will conduct himself according to company rules for the duration of his employment contract until December 2018 and will reimburse the company for any losses from Shahid Amin's negligence, fraud, or misconduct up to 1 lac rupees. The bond also extends to cover losses from Shahid Amin's indirect involvement in fraud and will remain valid even if his employment ends or he dies.

Uploaded by

Mian Badar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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SPECIMEN OF SURITY BOND

Please NOTE that this Surety Bond has to be

1) On Stamp Paper of Rs.l00/-


2) Surety of Mother & Father of the Candidate is not acceptable.
3) Please provide CNIC of person signing as surety as well as of witnesses.

The BOND datedthe _____December 06,2017____ day of ___Friday____ executed by


Mr.____Shahid Amin______S/O______AminAsim_____residing at_______House # 34 Block C ,
Model Town, Lahore._____ herein after called the Employee and Mr. _____Fiaz Shah_____ S/O
Qaim _Ali Shah_____ herein after called, the Surety in favor of Professional Employers (Private)
Limited, herein after called the Company, Whereas the Company agrees to appoint as
_____employee____ in accordance with the terms and conditions of his contractual appointment
letter. And whereas the employee has accepted to serve the Company and its Client and be bound by
the service rules and other regulations of the company as a condition of contractual recruitment.

NOW THERFORE THIS DOCUMENT WITNESSES AS UNDER:-

1. The___Mr Shahid Amin (principal debtor)____ undertake and binds, himself to serve the
company in accordance with the company regulations for the-whole, period of his contractual
service from the date of his employment in the company as aforesaid.

2. The __Mr Shahid Amin (principal debtor)___ further under takes and binds, himself to the
_____Mr Ilyas( creditor)____, in the sum of Rs._________1 lac______ to be paid to the
_______creditor, Mr Ilyas____, for which the _______creditor___________ or its clients
might suffer any pecuniary loss, damages or claim by reason or any act of fraud, forgery,
breach of trust, mismanagement and negligence or careless performance of duty on his part
during the entire period of his service.

3. The _____Mr Fiaz Shah_(surety)______ guarantees the company disciplined behavior/conduct


of the _____Mr ShahidAmin ( principal debtor)____ as required by the rules and regulations of
the company and its clients and undertakes to make good all pecuniary losses, damages or
claims to the extent of Rs.___1 lac_____ which the ___creditor, Mr Ilyas________ or its
clients might suffer on account of any act of fraud, forgery, breach of trust, mismanagement
and negligence or careless performance of duty on the part of the employee.

4. The Guarantee by the _____Mr Fiaz (surety)______, to the company also extends to cover any
fraud, forgery, connivance in which the employee is found involved, directly or indirectly and
by reason of which company suffers any pecuniary loss, damage or claim.

5. This Bond will remain in force-till the ___December 06,2018______________ remaining in


contractual service of the company, and shall, not be ceased on account of the death of the said
employee, or termination of his services if subsequently it is detected that the employee was
directly or indirectly or misappropriation of the company or its client’s fund, documents or
goods in which company has any pecuniary interest.
In Witness Whereof the Employee and the surety have affixed their signatures on this DEED in
the presence of the following witnesses on the date first above mentioned.

EMPLOYEE: SURETY:
Name: Name:
Signature: Signature:
Address: Address:

CNIC CNIC

WITNESSES WITNESSES
Name: Name:
Signature: Signature:

Address: Address:

CNIC CNIC

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