J344

REPUBLIC OF SOUTH AFRICA

TRUST PROPERTY CONTROL ACT, NO. 57 OF 1988

UNDERTAKING AND BOND OF SECURITY

In the estate of / trust known as ..............................................................................................................................................

I / We ......................................................................................................................................................................................
[Full names(s)]

of .............................................................................................................................................................................................

…………..................................................................................................................................................................................
[Full residential and business address(es)]

the duly appointed TRUSTEE(S) of the above-mentioned trust do hereby undertake and bind myself / ourselves jointly
and severally to administer the trust and the settled moneys duly and faithfully and to pay to the Mater of the Supreme
Court ( ........................................................................................................................ Division) on demand an amount up to
R.................................................. (.......................................................................................................................rand) as the
Master may claim from me /us in respect of any loss or damage as may be suffered by the trust or any person by reason
of the fact that I / we failed to perform properly my / our functions in the above capacities or because of any
maladministration on my / our part.

A certificate under the hand of the Master or his duly authorised representative to the effect that I / we failed to discharge
my / our functions as aforesaid and stating the amount of such loss or damage, shall be accepted as prima facie proof of
such failure and of the extent of such loss or damage.

I / we choose as my / our domicilium citandi et executandi and for the purpose of the service of any notices or for the
service of any legal process :

……..........................................................................................................................................................................................
(not a post box number)

Signed at .......................................................................... this ......................day of .................................................20..........

AS WITNESSES:

1. ........................................................................... 1. ............................................................................

2. ........................................................................... 2. ............................................................................
Signature(s)
(a women married in community of property or without
exclusion of marital power, must be assisted by her husband)
AS WITNESSES:

1. ........................................................................... 1. ............................................................................
Husband

2. ...........................................................................

DEPARTMENT OF JUSTICE AND CONSTITUTIONAL DEVELOPMENT

SURETYSHIP
by INSURANCE COMPANY/BANK/FINANCIAL INSTITUTION

l/We, .............................................................................................................................................................................................................
in my/our capacity as....................................................................................................................................................................................
of the.............................................................................................................................................................................................................
my/our principal do hereby interpose and bind my/our principal as surety and co-principal debtor in solidum, jointly and severally with
......................................................................................................................................................................................................................
[hereinafter referred to as the Incumbent(s)] unto and in favour of the Master of the High Court
(........................................................................................... ................................................................... Provincial Division) ("the Master")
for the due and proper performance by the incumbent(s) of his/their duties/functions in the aforesaid office(s) and the proper
administration of, and accounting by him/them for all funds and property of the Estate/Company/Trust under his/their administration as
required by law and in default thereof to pay to the Master on demand an amount up to the sum of R.....................................................
(................................................................................................................................. rand) as the Master may claim from my/our principal
in respect of such loss or damage as may be suffered by the Estate / Company / Trust ór any person by reason of such default.

Provided that:
1. My/Our principal's liability hereunder will not exceed the sum of R ....................................... (.......................................................................... Rand);

2. (a) in the event of any alleged default on the part of the incumbent(s) in his/their aforesaid office, giving rise to an alleged
claim under this suretyship, my/our principal will be notified by the Master in writing of the alleged default and the amount of the alleged
loss or damage suffered, which notification shall be prima facie of such default and the amount of the alleged loss or damage suffered.
The Master shall provide my/our principal with full details of the alleged default and loss or damage available to the said Master at the
time of making the demand;

(b) (i) the Master shall on request afford my/our principal or any representative appointed by it an opportunity of
investigating the alleged default and loss or damage, and shall disclose and make available all information and documents in his
possession or under his control relative thereto and shall generally co-operate with and assist my/our principal in his investigations
to the extent that it is in his power to do so;
(ii) my/our principal shall notify the Master in writing, of its objection (if any) to the claim or the amount thereof and the grounds therefor
within three months from the date of such notification by the Master or within such further period as the Master may allow in writing
having regard to the reasonable requirements of my/our principal for purposes of investigating the alleged default and the amount of
the loss or damage so claimed;

(c) the Master shall notify my/our principal in writing of his decision on any objection lodged by my/our principal to the claim, the validity or
amounts thereof and in the event of any rejection of any objection, the grounds therefor;

(d) in the event and to the extent that the Master shall reject the objections to the claim or the amount thereof, my/our principal shall be
entitled to institute action within four months of such rejection;

(e) the amount paid by my/our principal to the Master in terms of paragraph 1, shall be kept by the Master in trust pending the expiration of
the period of four months mentioned in paragraph (d) or the final determination of any action instituted by my/our principal, whichever
occurs last.

3. It is a condition of this bond that if the incumbent(s) shall duly and properly perform his/their duties in relation to the Estate/Company/Trust and the
administration of the assets thereof, then the obligation assumed hereunder shall lapse and be of no further force and effect.

4. l/We on behalf of my/our principal renounce the benefits of excussion and division with the meaning and effect whereof l/we declare my/our
principal to be acquainted.

SIGNED at...........................................................................................................................on..................................................................
(place) (date)

AS WITNESSES:

1. .................................................................................. 1. .......................................................................................................
for Principal

2. .................................................................................. 2. ......................................................................................................
for Principal

DEPARTMENT OF JUSTICE AND CONSTITUTIONAL DEVELOPMENT 2