Customs and Excise Act, 1964 (Act No. 91 of 1964) Customs and Excise Rules Chapter VIII : Registration, Licensing and Accredited Clients Rules for Section 64G of the Act Licensing of, and conditions and procedures applicable to, degrouping depots contemplated in section 6(1)(hC) and 64G for goods imported by air Pro Forma Bond for a Licensed Degrouping Depot

 

SOUTH AFRICAN REVENUE SERVICE

 

PRO FORMA BOND FOR A LICENSED DEGROUPING DEPOT

 

(To be furnished by the applicant for a licence (degrouping operator) in accordance with the provisions of section 64G of the Customs and Excise Act, 1964 (Act 91 of 1964) and the rules for the said section 64G)

 

 

KNOW ALL WHOM IT MAY CONCERN THAT—

 

WHEREAS  ________________________ as Principal Debtor, herein represented by:

 

 

 

in their respective capacities as

 

 

 

 

 

and:

 

                                                                            as surety and co-principal debtor in solidum herein represented by:

 

1.        __________________________________

 

2.        __________________________________

 

in their capacities as

 

1.        __________________________________

 

2.        __________________________________

 

being duly authorised thereto by virtue of standard internal *banking / insurance regulations relating to signing powers

(*Delete which is not applicable)

 

are truly and lawfully indebted and are held and firmly bound to the Commissioner for the South African Revenue Service

 

in the amount of R____________________________________________________ (amount in words) to be paid to the said Commissioner,

 

for which payment well and truly to be made we bind ourselves jointly and severally, each for the whole our heirs, executors, administrators and assigns,

 

FURTHERMORE we, the Principal Debtor(s) and Co-Principal Debtor(s) renounce and waive the exemptions:

(i)        Beneficium ordinis seu excussionis;

(ii)        Beneficium divisionis; and

(iii)        Any other exception that may be taken in law.

with the meaning and effect of which we are fully acquainted.

 

WHEREAS the Principal Debtor has applied for a licence in respect of the premises to be used as a degrouping depot subject to the customs and excise laws of the Republic relating to licensing of a degrouping depot and the Commissioner has approved the application.

 

NOW THEREFORE the conditions of this obligation are that—

 

THEN if the aforesaid conditions are applicable this obligation shall in relation to such goods be void, otherwise to be and remain in full force and effect.

 

This guarantee is not transferable or negotiable.

 

All admissions or acknowledgements of indebtedness made by the Principal Debtor shall be binding upon the Co-Principal Debtor.

 

The Commissioner or his delegated officer shall be at liberty, without affecting the Commissioner's rights hereunder, to release securities provided by or on behalf of the Principal Debtor by any person, association of persons, firm or company and to give time to, or compound or make other arrangements with the Principal Debtor, its legal representative in insolvency, judicial management or otherwise.

 

Any claim arising hereunder may be recovered in any division of the High Court of South Africa as the Commissioner may elect and the Co-Principal Debtor hereby consents and submits to the Jurisdiction of such a Court in respect of any such claim.

 

Signed by the Principal at __________________________ on this __________ day of ____________________________ 20

 

 

 

In the presence of the subscribed witnesses:

 

 

 

 

Signed by the Surety(ies) and Co-Principal Debtor(s) on this _______day of ___________________________ at _______________________________

 

 

In the presence of the subscribed witnesses:

 

1.        __________________________________

 

2.        __________________________________