BOND CONTRACT MODEL FOR MARITIME SERVICE COMPANIES – NAUTICAL MANAGEMENT – NAUTICAL ADMINISTRATION

I, __________________________, Venezuelan, of legal age, legally capable, __________________________ by profession, holder of Identity Card No. __________________, domiciled in __________________________, acting as the representative or attorney-in-fact of the Mercantile Society (Banking or Insurance Entity), ____________________________________, registered in the Mercantile Registry of the Judicial District of the State of __________________, under number ______, Volume ______, Protocol ______, dated __________________, as well as registered with the Superintendency of Insurance Activities under number __________ and sufficiently empowered for this type of act, as evidenced by the power of attorney instrument authenticated before the __________________ Public Notary of the __________________ Municipality under number ______, Volume ______, on date __________________; which shall hereinafter be referred to as “THE COMPANY,” declare:
I hereby constitute my principal as joint and several guarantor and principal payor for the mercantile society ____________________________________, registered in the __________________ Mercantile Registry of the __________________ Judicial District, on date __________________ under number ______, Volume ______, Protocol ______, and registered in the Fiscal Information Registry (RIF) under No. J-________________, hereinafter referred to as “THE PRINCIPAL,” up to the amount of Seven Thousand Euros (€7,000.00) or its equivalent in Bolívares according to the average official rate of the Central Bank of Venezuela as of __________________, to guarantee before the National Institute of Aquatic Spaces (INEA), an entity attached to the Ministry of People’s Power for Transportation, hereinafter referred to as “THE CREDITOR,” the capacity to operate as a MARITIME SERVICE COMPANY in all Aquatic Jurisdictions of the country, with the purpose of guaranteeing the faithful, full, and timely fulfillment by “THE PRINCIPAL” of each and every obligation arising to its charge and in favor of “THE CREDITOR,” whereby OBLIGATIONS DERIVED FROM MARITIME SERVICE COMPANIES ARE GUARANTEED, in the category of NAUTICAL MANAGEMENT, specifically for NAUTICAL ADMINISTRATION activities, as provided for in Article 73, paragraphs 1 and 2; Article 74, paragraphs 13 and 16; Article 78, paragraph 10; and Article 102, paragraph 13 of the Decree with the Rank, Value, and Force of the Organic Law of Aquatic Spaces; and in compliance with the requirements set forth in Title V, Chapter II, Section III, Article 166, paragraph 2 of the Maritime Commerce Law, in conjunction with Article 240 of the Decree with the Rank, Value, and Force of the Law of Marina and Related Activities, and the provisions of Administrative Ruling No. 068 dated August 16, 2024, issued by the National Institute of Aquatic Spaces.
Likewise, it is established that this BOND shall have a validity of one (1) year, effective from __________________ until __________________, and may be renewed for periods of equal duration via an authenticated annex issued by “THE COMPANY.” Upon expiration of this term, all liability of “THE COMPANY” shall cease. The City of Caracas, Capital District, is established as the special domicile for all purposes of this contract. “THE COMPANY” expressly waives the benefits granted by Articles 1,833, 1,834, and 1,836 of the Venezuelan Civil Code. This bond was approved by the Board of Directors of the mercantile society ____________________________________, in its session dated __________________.