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BOND OF INDEMNITY
THIS DEED OF
INDEMNITY MADE this _____________________ day of __________20____by Shri/Smt/Kum________________________________________ S/o
______________________________residing at __________________________ {hereafter
referred to as "trained" which expression shall include his/her
heirs, executors, administrators and representatives where the context so
admits and Shri __________________ Slo_________________________________________
residing at
______________________________________________________________________
{hereinafter referred to as "Surety" which expression shall include
his heirs, executors, administrators and representatives where the context so
admits of the ONE PART and the President of India owner and administrator of
the CENTRAL RAILWAY {hereinafter referred to as "the Government") of
the PART.
WHEREAS the Government has engaged the trainee on the Government,
AND WHEREAS the
surety is interested in the welfare of the said trainee and therefore, has
agreed to these presents as a surety.
AND WHEREAS One of
the terms and conditions to the said engagement of the trainee is that the
trainee shall complete the prescribed training and after such completion, shall
accept service under the Government and serve the Government for a Minimum
period of five years and if the trainee deserts service or resigns from service
during the period of training or thereafter without the written consent of the
Government or is discharged there for mis-conduct or any offence as enumerated
the deed, the trainee shall repay on demand by the Government, the whole cost
of training or pay any other amounts, excluding traveling and running
allowances drawn by the trainee from the Government under those terms and
conditions.
AND WHEREAS the
surety has agreed to indemnity and/to reimburse the Government to that extent.
NOW THESE PRESENTS
WITNESS AND it is hereby agreed by and between the parties as follows:
1.
That in consideration of the premises in consideration of the Government
agreeing to engage the trainee for the course mentioned in the joining report
referred to above, The trainee after completing the training satisfactorily shall serve the Government for a minimum period of five years thereafter
in accordance with the said joining report executed her trainee and the Government
to the complete satisfaction of the Government {decision of the Government about which shall be final and conclusive}.
2.
That the trainee and the surety hereby undertake indemnity and
reimburse the Government to that extent as aforesaid.
3.
That in the event of the trainee getting an adverse repo progress of
his/her training of studies of conduct or discontinue studies or being
discharged from the course or on refusal to continue reason not
beyond the control of trainees or does not continue in service as
aforesaid, the trainee and the surety shall jointly and severally be liable to
pay and refund forthwith to the Government on demand and without demand in cash
all monies expended on the trainee or on his account in respect of his/her
training course as stated above{and the decision of the Government as to the
amount so payable shall be finally together with interest on the said monies
calculated at the rate than enforce for Government loans}.
4.
The liability of the surety here
under shall not be impaired or discharged by reason of time being granted of
any for bearance, act of omission of the Government or any person authorized by
the Government, {whether with or without the knowledge or consent of the
surety}, nor shall it be necessary for the Government to due the trainee before
issuing the surety for the amount due hereunder:
5.
That if there is any dispute as
to the effect or meaning of this presents or otherwise, however, except as to
matters for which specified provision had been made in these presents, the same
shall be referred to the sole arbitration of the Secretary to the Government of
India in the Ministry of Railways or any person appointed by him, whose
decision shall be final and binding on the parties. The provisions of Indian
Arbitration Act, 1940 as amended from time to time shall apply.
IN WITNESS WHERE
THE PARTIES HEREIN, have, set there the day and year first above written.
WITNESS
1
._______________________ (Party of the first part signature of the I candidates:)
2.
_______________________
WITNESS
1
_________________________ (Party of the second part signature of the guardian.)
2
__________________________
As signed by the
surety above named in presence of :
Name & Address
of surety.
_______________________
_______________________
Name & Address
of witness
___________________________
(Signature of the
Surety)
(Govt.salaried employee of GP 1900&
above)’
1.
___________________ Pay
per month Rs.................
2.
__________________ ………………………………………...
(Signature of the witness)
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