except in respect of any damage or loss occasioned by any act or default of the receiver in relation
to his duties as such Receiver (and Manager) prior to the hearing and determination of such
summons.
(b)
A statement under the hand of any Registrar of the Federal High Court of the amount which the
Receiver is liable to pay and has not paid under this guarantee and that the loss or damage has
been incurred through the act or default of the Receiver shall be conclusive evidence in any
action or information by the President and Commander-in-Chief of the Armed Forces of the
Federal Republic of Nigeria against the Receiver and Surety or either of them or by the Surety
against the Receiver of the truth of the contents of such statement and shall constitute a binding
charge not only against the Receiver and his personal representatives, but also against the
Surety and its funds and property without its being necessary for the President and Commander
in-Chief of the Armed Forces of the Federal Republic of Nigeria to take any legal or other
proceedings against the Receiver for the recovery thereof and without any further or other proof
being given in that behalf in any action to enforce this guarantee
(c)
The liability of the Surety under this guarantee is limited to the sum of N……………………
Provided nevertheless that a Registrar of the Federal High Court may be his Signature to the
endorsement on this guarantee (in the form printed thereon), reduce the said liability of the Surety still
further or (but only with the consent of the Surety by an instrument in writing duly executed), increase such
liability as may be necessary and upon such endorsement this guarantee shill continue in full force but in
that case the premium shall be correspondingly reduced or increased.
3.
(a)
(b)
It is hereby further agreed between the Receiver and the Surety as follows:
The Receiver will on being discharged from his office or on ceasing to act as such Receiver (and
Manager) as aforesaid, forthwith give written notice thereof to the Surety by courier service and also
within seven days of such notice furnish the surety free of charge an office copy of the order, if any,
of the Judge discharging him.
The Receiver and his personal representatives shall and will at all times hereafter indemnify the Surety
and its property and funds against all loss, damages, costs and expenses which the Surety or its
funds or property may or might otherwise sustain by reason of the Surety having executed this
guarantee at his request.
In Witness Whereof the Receiver has hereunder set his hand and seal and the Surety has caused its Common
Seal to be affixed the……………………day of…………………20……………………….
Signature
Name
Address
Occupation
In the matter of ……………………………. increased liability (To be attached by way of
endorsement guarantee)