INBOND SALES BOND FORMAT:

From:                                                                                 TO:    

Seller Name & Address                                                Buyer Name & Address

  

         THIS AGREEMENT IS EXCUTED AT CHENNAI ON 01TH DAY OF APRIL 2011

BETWEEN

M/S. Seller Address hereinafter called “the seller”, which expression shall, unless repugnant to the, context or meaning hereof, mean and include its successors and assigns of the First Part:

AND

M/S. Buyer Address hereinafter called “the seller”, which expression shall, unless repugnant to the, context or meaning hereof, mean and include its successors and assigns of the Second Part:

WHEREAS the seller has imported a consignment of goods comprising of 1104 Cartons of Furnitures arrived on Callao Bridge V.014 from Shekou, Guangdong, and the consignment is currently bonded in Customs Ware House in Chennai (India).

And WHEREAS the Buyer is interested to buy the said 1104 Cartons of  Furnitures referred to hereinafter.

And WHEREAS the Seller has agreed to sell the said goods to the buyer on the terms and condition appearing hereinafter.

1. The Seller hereby sells the consignment comprising 1104 Cartons of Furnitures to the Buyer as detailed in the invoice No. S101 Dt. 01.04.2011 in pursuance to this agreement for a consideration of Rs. Nineteen Lakhs Eleven Thousand Seven Hundred and Eighty Eight only (Rs.19,11,788)

2. The Buyer has agreed to pay a sum of Rs. Nineteen Lakhs Eleven Thousand Seven Hundred and Eighty Eight only (Rs.19,11,788) being the full sale consideration against transferring Name/Title.

3. The ownership and the title of the goods are transferred upon delivery of goods in the warehouse of the Buyer.

4. The title of the goods stands transferred to the Buyer upon delivery of the goods in the warehouse of the Buyer.

5.    The Buyer shall be responsible for the entire expense for clearance of goods including the clearing charges and other levies, Demurrage, transport etc at its own cost and expenses.

6.  At the time of this agreement to sell, the material is in the customs Bonded Ware House, in the customs frontier of India.

7. This sales is effected on Bond to Bond Basis within the meaning of section 5(2) of the Central Sales Tax Act, 1956 and, therefore, no sales tax is payable in respect of this sale.

8. The Seller has taken Insurance policy to insure the risk of the consignment upto the warehouse of the buyer. Therefore the Buyer will not be responsible for damage or loss in transit etc. of the goods.

9. In case the Buyer fails to take delivery of the good for any reason whatsoever, the Buyer be responsible for all losses and damages.

10. The agreement is subject to Chennai Jurisdiction.

11. Any amendments or supplements to this agreement are valid only if they agrees upon by both the  parties in writing and signed by the authorized representatives of both the parties and executed before arrival of the goods at the customs frontier in India.

AUTHORIZED SIGNATORY                             AUTHORIZED SIGNATORY

          (SELLER)                                                  (BUYER)

 

WITNESSES:-

1.

2.