INSTALLMENT BOND

I KC, s/o Mr. RC r/o ………………… have borrowed  a sum of Rs……….from Mr. SK s/o K r/o ……………………...  I hereby promise that the said sum  shall be  paid in twelve equal instalments of Rs………………each by first week of  each month.  I further promise that interest at the rate of 18% per annum shall also be paid along with monthly instalment.

            AND  I hereby agree that in case of my failure to pay the instalment alongwith interest the whole amount shall become due at once.

Witnesses:

1.         Name………………                                                                                                                                   Signature of…………

            Address…………….                                                                                                                                             (KC)

 

2.        Name………………..

           Address…………….

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