Hi all,
I need to draft a study bond agreement for one of our staff. She received our company sponsorship for upgrading course. She needs to serve 1 year employment bond with the company after graduation.
I would highly appreciate if anyone can please share a sample bond with me.
Thank you in advance.
Warmest Regards,
Anleyn
From Singapore, Singapore
I need to draft a study bond agreement for one of our staff. She received our company sponsorship for upgrading course. She needs to serve 1 year employment bond with the company after graduation.
I would highly appreciate if anyone can please share a sample bond with me.
Thank you in advance.
Warmest Regards,
Anleyn
From Singapore, Singapore
Dear Anleyn
I do not have a sample format of Bond but I would like to share some important aspects of the same. Please do not mention in the bond that the employee cannot join and work with any other company during the period of one year. Also do not mention any penalty amount if an employee breach the bond. As per the constitution of India, every indian citizen has right to choose the employment or practice the profession of one's own choice and any agreement against it (even on the stamp paper) becomes illegal. Hence it is better to fix a certain sum of money which will be refunded by the employee if he/she choose to leave the organisation during one year. This shows that the Company has invested huge amount of money and the employee has assured to provide the results for one year thereafter and if the employee leaves the company, he/she should refund the amount of money that company has spend on his/her training since company can not avail any advantage of the upgraded learning.
From India, Mumbai
19I do not have a sample format of Bond but I would like to share some important aspects of the same. Please do not mention in the bond that the employee cannot join and work with any other company during the period of one year. Also do not mention any penalty amount if an employee breach the bond. As per the constitution of India, every indian citizen has right to choose the employment or practice the profession of one's own choice and any agreement against it (even on the stamp paper) becomes illegal. Hence it is better to fix a certain sum of money which will be refunded by the employee if he/she choose to leave the organisation during one year. This shows that the Company has invested huge amount of money and the employee has assured to provide the results for one year thereafter and if the employee leaves the company, he/she should refund the amount of money that company has spend on his/her training since company can not avail any advantage of the upgraded learning.
From India, Mumbai
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BOND AGREEMENT and bond demand_compress ed.pdf
Training Agreement - Bond - Draft.doc