Legaljini

Installment bond of deed form.

This bond is required for making payments by the debtor to the creditor in more than one installment. Bond is a deed whereby one person binds himself under the seal, to another for the payment of a specified sum of money, either immediately or at fixed future date, or whereby several people bind themselves jointly and severally, to one or more persons to the same effect.

₹ 175.00

1

What is a bond?

Ans.

Bond is a commitment in writing by which an executor binds himself to do or not to do something under a contract against or in favor of the other person.

2

What are the types of bonds?

Ans.

The different types of bonds would be:
1. Ordinary bonds
2. Administrative Bonds
3. Bottomry Bond
4. Custom Bond
5. Indemnity Bond
6. Respondentia Bond
7. Security Bond

3

Are bonds & debentures different?

Ans.

Yes. All debentures are bonds but not all bonds are debentures. Debenture is an instrument issued by the company acknowledging the payment of money or the company’s indebtness in a   specific sum at a fixed date with interest therein.

4

Do bonds require stamp duties?

Ans.

Yes. All bonds require stamp duties. Stamp duties depend upon the nature of the bond & also the corresponding sections of the State Acts. Generally, bonds are executed on a stamp paper of hundred rupees.

5

Do bonds need to be registered?

Ans.

No. Bonds need not be registered unless they are security bonds and affect an immoveable property.

6

What are the forms of bonds?

Ans.

Bonds can be in the form of letters, affidavits or agreements.

 

 

STEP 1

Fill in blanks:

Fill in the blank spaces. Delete instructions highlighted in grey.

 

 

 

STEP 2

Alternations: 

Add or delete a clause according to your needs. Re-check the document.

 

 

 

STEP 3

Stamp Paper

The Stamp Duty value will be made available to you at your legaljini account on purchase of the document.

 

Stamp Duty Payment option 1

If you wish to print Agreement on Stamp Paper, you can buy from court/ Stamp office and said Stamp paper will be used as 1st page of Agreement. If you wish to have 2 copies of Agreement you should buy 2 Stamp Papers (one Stamp Paper for each copy)

 

Stamp Duty Payment option 2

If you have facility of franking for Stamp Duty payment at nearest bank, you need to print the Agreement & get franking done. If you wish to have 2 copies of Agreement you should frank 2 copies (one copy for each party)

 

 

 

STEP 4

Printing on Legal Paper:

 

 

On Stamp Paper

Print ONLY on the blank portion of the stamp paper.

 

On Ledger Paper

Print on a SINGLE SIDE of a sheet of Ledger Paper.

 

 

 

STEP 5

Number of Copies Needed:

Generally it is made two copies (one copy for each party)

 

 

 

STEP 6

Photographs & Signatures/ Thumb Impression & Initials:

The concerned parties should sign, or affix their mark and recent passport size photograph against their names on the last page of the document. This document must initialed or marked by the concerned parties at the end of every page. In addition or corrections/ alterations made after printing must be initialed.

 

 

 

STEP 7

Witness Attestation (Both Parties):

This document must be attested by at least two witnesses from both sides.

 

 

 

STEP 8

Registration/ Notary

Registration or Notary is mandatory for some documents however it is preferable.

 

Registration Mandatory

Please contact the nearest Sub Registrar office for registration of this document.

 

Notarisation Mandatory

Please notarise this document from the Notary Public at your nearest court.

 

 

 

You Need to Know:

Bond in some cases requires guarantee by Sureties/Guarantors. 

Bond can be either in the form of Affidavit, Letter or Agreement.

 

 

 

Please contact our Helpline if you have any difficulty.