Common use of ON STAMP PAPER OF RS Clause in Contracts

ON STAMP PAPER OF RS. 300/- (On stamp paper of Rs. 300/- duly Notarized) INDEMNITY BOND In consideration of the GETCO (hereinafter known as Company) having given contract for the work of as per the work order No. date and all future contracts that may be awarded to me in next year and in terms of conditions of the GETCO’s tender and contract for work. I, residing at by this bond bind myself responsible for and shall pay compensation to my xxxxxxx payable under the xxxxxxx'x compensation Act 1923 (VIII of 19/23) (hereinafter called the said Act) for death or injuries caused to the xxxxxxx engaged be me. I, further bind myself and my successors or assigns by these present, if such compensation is paid by the GETCO as principal under sub section (I) of section 12 of the said Act, on behalf of me to such amount of compensation of demand within 48 hours to the Company that if might have to spend as legal and other incidental charges in defending any suit or action arising out of the death or injuries in regard to compensation paid to the xxxxxxx or heirs of the deceased xxxxxxx. I including my legal heirs hereby bind and undertake to comply all the applicable labour laws in respect of all the employees employed by us and further indemnify Gujarat Energy Transmission Corporation Ltd. in respect of any loss or liability which may arise out of any non- compliance of labour legislations. We shall be fully liable to all the legal consequences, damages, expenses etc. and shall make good all sorts of damages, losses and liabilities which GETCO shall have to bear due to such noncompliance on our part. In case we fail to make payment in respect of any of the above legal liabilities, we here by authorize GETCO to make recovery of any amount in respect above referred non-compliance from our final bills or running bills or our deposits with GETCO or bank guarantees with GETCO. Now, the condition of the above written bond is such that, if any suit or action arising out of the death or injuries to the xxxxxxx engaged by me, during the execution of the work of the said contract and all future contracts that may be awarded to me in next year is filled by the worker against the Company. I, residing at , Taluka- shall reimburse to the Company such an amount, that the Company is required to spend as legal and other incidental charges in defending such suit or action and also the amount may be awarded to be paid to the worker or his heirs as compensation and that the above written binding shall remain in full force and virtue, till the Company is required to defend such suit or action filled by the worker or his heirs against the Company. It is compulsory for the contractor to take out a suitable insurance from the xxxxxxx compensation. Contractor's signature In presence of:

ON STAMP PAPER OF RS. 300/- (On stamp paper of Rs. 300/- duly Notarized) INDEMNITY BOND In consideration of the GETCO (hereinafter known as Company) having given contract for the work of _ as per the work order No. date and all future contracts that may be awarded to me in next year and in terms of conditions of the GETCO’s tender and contract for work. I, residing at _ _ by this bond bind myself responsible for and shall pay compensation to my xxxxxxx payable under the xxxxxxx'x compensation Act 1923 (VIII of 19/23) (hereinafter called the said Act) for death or injuries caused to the xxxxxxx engaged be me. I, further bind myself and my successors or assigns by these present, if such compensation is paid by the GETCO as principal under sub section (I) of section 12 of the said Act, on behalf of me to such amount of compensation of demand within 48 hours to the Company that if might have to spend as legal and other incidental charges in defending any suit or action arising out of the death or injuries in regard to compensation paid to the xxxxxxx or heirs of the deceased xxxxxxx. I including my legal heirs hereby bind and undertake to comply all the applicable labour laws in respect of all the employees employed by us and further indemnify Gujarat Energy Transmission Corporation Ltd. in respect of any loss or liability which may arise out of any non- compliance of labour legislations. We shall be fully liable to all the legal consequences, damages, expenses etc. and shall make good all sorts of damages, losses and liabilities which GETCO shall have to bear due to such noncompliance on our part. In case we fail to make payment in respect of any of the above legal liabilities, we here by authorize GETCO to make recovery of any amount in respect above referred non-compliance from our final bills or running bills or our deposits with GETCO or bank guarantees with GETCO. Now, the condition of the above written bond is such that, if any suit or action arising out of the death or injuries to the xxxxxxx engaged by me, during the execution of the work of the said contract and all future contracts that may be awarded to me in next year is filled by the worker against the Company. I, _ residing at , Taluka- _ shall reimburse to the Company such an amount, that the Company is required to spend as legal and other incidental charges in defending such suit or action and also the amount may be awarded to be paid to the worker or his heirs as compensation and that the above written binding shall remain in full force and virtue, till the Company is required to defend such suit or action filled by the worker or his heirs against the Company. It is compulsory for the contractor to take out a suitable insurance from the xxxxxxx compensation. Contractor's signature In presence of: