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Annexure-III
SURETY BOND
KNOW ALL MEN BY THESE PRESENTS that we, M/s , a _(Type of
organization)incorporated / registered under the (Name of the Act)
and having its registered office at (hereinafter called the “Obligers”)
are held fully and firmly bound to the Governor of Haryana (hereinafter called the “Government”)
for the sum of Rs. _(Rupees _only) well and truly to be paid to the
Government on demand and without a demur for which payment we firmly bind ourselves and
our successors and assignees by these presents.
SIGNED on the _day of _in the year Two Thousand
WHEREAS on the Obligers’ request, the Government as per Industries and Commerce
Department
Sanction Order No. Dated (hereinafter referred to as
the “Letter of Sanction”) which forms an integral part of these presents, and copy whereof is
annexed hereto and marked as Annexure-I, agreed to make in favour of the Obligers grants-in-
aids of Rs.
(Rupees
_Only) for the purpose of _,
(description of the project) at _, out of which the sum of Rs.
(Rupees
only) have been paid to the Obligers
(the receipt of which the obligers do hereby admit and acknowledge) on condition of the
Obligers executing a bond in the terms and manner contained hereinafter which the obligers
have agreed to do.
NOW the conditions of the above written obligation is such that if the Obligers duly fulfill and
comply with all the conditions mentioned in the letter of sanction, the above written Bond or
obligation shall be void and of no effect. But otherwise, it shall remain in full force and virtue.
The Obligers will abide by the terms and conditions of the grants-in-aid by the target dates, if
any specified therein.
THAT the Obligers shall not divert the grants-in-aid and entrust execution of the Scheme or
work concerned to another institution(s) or organization(s).
THAT the Obligers shall abide by any other conditions specified in this agreement and in the
event of their failing to comply with the conditions or committing breach of the bond, the
Obligers individually and jointly will be liable to refund to the Governor of Haryana, the entire
amount of the grants-in-aid with interest of 10% per annum thereon, if a part of the grants-in-aid in
left unspent after the expiry of the period within which it is required to be spent, interest
@10% per annum shall be charged up to the date of its refund to the Government, unless it is
agreed to be carried over.
The obligers agree and undertake to surrender / pay the Government the monetary value of all
such pecuniary or other benefits which it may receive or derive/ have received or derived
through / upon unauthorized use of (such as letting out the premises on adequate or less than
adequate consideration or use of the premises for any purpose other than that for which the
grants-in-aid was intended of the property) buildings created/ acquired constructed largely from
out of the grants-in-aid sanctioned by the Government of Haryana, Industries and