SURETY BOND
KNOW ALL MEN BY THESE PRESENTS THAT WE S/O
MUSLIM ADULT RESIDENT OF
(HERE-IN-AFTER CALLED THE EMPLOYEE)
AND
S/O
MUSLIM RESIDENT OF _
(HERE-IN-AFTER CALLED THE SURETY)
DO HEREBY BIND OURSELVES JOINTLY AND SEVERALLY TO ABUDAWOOD TRADING
COMPANY PAKISTAN LTD. AN EXISTING COMPANY UNDER THE COMPANIES ORDINANCE
1984. HAVING IT’S REGISTERED OFFICE AT 3rd FLOOR EXECUTIVE TOWER CLIFTON CENTER,
KARACHI (HERE-IN-AFTER REFERRED TO AS THE “COMPANY” WHICH EXPRESSION SHALL
INCLUDE IT’S NOMINEES, SUCCESSORS IN BUSINESS AND ASSIGNS) FOR THE PAYMENT OF
THE SUM OF Rs.50,000/- (RUPEES FIFTY THOUSAND ONLY).
SIGNED AND DELIVERED BY US AT KARACHI, THIS DAY OF 20__.
WITNESSES:
1. Signature
NAME (EMPLOYEE SIGNATURE AS PER
CNIC NO: CNIC)
ADDRESS:
CNIC NO:
2 Signature
NAME (SURETY SIGNATURE AS PER
CNIC NO: CNIC)
ADDRESS:
CNIC NO:
WHEREAS THE COMPANY HAS AGREED TO APPOINT THE EMPLOYEE IN THEIR
EMPLOYMENT AS A
W.E.F TO BE BASED AT KARACHI
OR ELSEWHERE IN PAKISTAN ON THE CONDITION THAT THE SAID EMPLOYEE BINDS HIMSELF
TO SERVE THE COMPANY FAITHFULLY DILIGENTLY. HONESTLY AND CAREFULLY OBSERVING
SINCERELY ALL RULES AND REGULATIONS OF THE COMPANY AND ALSO ON THE CONDITION
THAT THE SAID
EMPLOYEE FURTHER BINDS HIMSELF AGAINST LOSS/LOSSES WJHICH THE COMPANY MAY
SUFFER DUE TO SHORTAGE, MISAPPROPRIATION. THEFT OR FRAUD COMMITTED BY HIM OR
BY ANY OTHER PERSON AS A RESULT OF HIS NEGLIGENCE OR CARELESSNESS RESPECT OF
COMPANY’S GOODS. STOCK. CASH OR OTHER PROPERTY IN HIS POSSESSION.
CUSTODY.CHARGE. OR TRUST AND IN THE EVENT OF THE SAID EMPLOYEE FALLING TO
SERVE THE COMPANY AS AFORESAID THE EMPLOYEE SHALL APAY TO THE COMPANY A SUM
OF UPTO RS.50000/= (RUPEES FIFTY THOUSAND). AS DAMAGES .
AND WHEREAS THE AFORESAID EMPLOYEES AS AGREE WHO SIRVICE AGREED THE COMPANY
TO SURVE THE COMPANY IN THE MANAR AFORESAID EXCEPTENG THE RESPONCIBILITIES
STATED IN THE PRESENDING THE PARAGRAPH.
AND WHEREAS THE COMPANY AS CALLED UPON THE AFORESAID EMPLOYEE TO EXCIQUITE A
SECURITY SHURTY BOND IN THE SUM OF RS.50000/=(RUPEES FIFTY THOUSAND ONLY) FOR
DUE PERFORMANCE OF THE EMPLOYEES OBLIYGATIONS ASAFORSAID AND TO FURNISHED A
SHURTY
AND WHERE AS THE EMPLOYEES AND THE SHURTY ABOVE NAME HAVE INTERED INTO THE
ABOVE WRITTEN BOND IN THE SUM OF RS.50000/= (RUPEES FIFTY THOUSAND ONLY) FOR
THE DUE PERFORMANCE OF OBLIGATION UNDER THIS BOND BY THE SAID EMPLOYEE
AND WHEREAS IT HAS BEEN CLEARLY UNDER STUDD AND AGREED THAT THE
CONSTRUCTION,VALIDITY AND THE PERFORMANCE OF THIS BOND SHELL BE GOVERNED BY
THE LAWS OF PAKISTAN AND ANY DISPUTE RELATING TO THIS BOND SHELL BE DECIDED BY
A COMPETENT COURT AT KARACHI
NOW THE CONDITION OF THE OBOVE WRITTEN BOND IS THE SUCH THAT IT WILL REMAIN IN
FULL FORCE AND VIRTUE SO FAR AS THE AFORSAID EMPLOYEE REMAIN IN HIS PRESENT JOB
OR IN AN OTHER JOB OF SIMILAR NATURE IN THE COMPANY AND OR OTHER COMPANY TO
WHICH HE MAY BE DEPUTED /SECONDED BY THE COMPANY
IN WITTNESS OF THE OBOVE WRITTEN BOND AND ALL THE TERMS AND CONDITION HERE –
IN – BEFORE CONTAINED. WE AFORSAID AND
HAVE SET OUR HANDS AT _ THIS
DAY OF 20__.
WITNESSES:
2. Signature
NAME (EMPLOYEE SIGNATURE AS PER
CNIC NO: CNIC)
ADDRESS:
CNIC NO:
3 Signature
NAME (SURETY SIGNATURE AS PER
CNIC NO: CNIC)
ADDRESS:
CNIC NO:
