BOTTORMY BOND EXECUTED BY MASTER OF SHIP TO SECURE REPAYMENT OF LOAN

KNOW ALL MEN by these presents:

That I _________________, master of the ship ____________, of the port of _______, for myself, am held and firmly bound unto _________ lender in the penal sum of Rs. ___________ (Rupees _____________), for the payment of which, well and truly to be made unto the said lender, his heirs, executors, administrators, and assigns, I hereby bind myself, my heirs, executors, and administrators, firmly by these presents.

AND for further security of the said lender, I, the said master do by these presents pledge the said ship and her freight, together, with her tackle and apparel, and the cargo now on board; and it is hereby declared that the said ship and her freight and cargo are thus pledged for the security of the money advanced to me, and shall be pledged or mortgaged to no other person until payment of this bond is first made, with the interest that may become due thereon.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this ______ day of _______, 20____.

WHEREAS, the above-named ship having been compelled to put into the port of ________ for repairs and necessaries, and the owners of the said ship and of her freight and the shippers and consignees of the cargo on board of her having refused to provide the money wherewith to pay for the said repairs and necessaries, the above-bounden master has been compelled to borrow at bottomry and has received of the lender the sum of Rs. ______ (Rupees ___________), which sum is to run at bottomry on the hull and freight and cargo of the said ship from the port ________, on a voyage to the port of _________, at the rate of per cent (_________% )for the voyage.

NOW, the condition of this obligation is such that, if the above-bound master, his heirs, executors, or administrators, shall pay unto the lender, or his heirs, executors, administrators, or assigns, the sum of Rs. ________ (Rupees ___________), being the principal of this bond, together with the interest which shall become due thereon, within _____ days after the safe arrival of the ship at her place of discharge in the port of ____________, or if the said ship is lost on the said voyage, then this obligation and pledge shall be void and of no effect; otherwise to remain in full force and effect. Three bonds of the same tenor and debt have been signed, the one of which being paid the others to be void and of no effect.

 

SIGNED, SEALED AND DELIVERED in the presence of

Signature of the master