WebAn employment bond is a contract requiring that an employee continue to work for their employer for a specified period, under penalty of a monetary forfeiture to the employer. Such contracts and associated surety bonds are similar to indentured servitude or serfdom , … WebAug 17, 2011 · D the Employee, as part of the consideration for the training efforts and costs involved, agreed to sign a bond for not leaving the services of the Company for a minimum period of six months from the date of his/her joining the services of the …

What is an Employment Bond? We Bond Employees NFP

WebOct 19, 2024 · A bond is a contract between the employer and the employee. It states that the employee will work in the company for a specific period after joining or from the moment training begins. If the employee wishes to leave before the agreed time, he/she will have to pay the employer a certain amount, called “ liquidated damages ”, as compensation. WebThis Training Bond Agreement, made and entered into this _____ day of _____ 2010 in _____, Philippines, by and between:_____, a corporation duly organized and existing under Philippines laws and with office address at the _____, represented herein by its representative ... If the Employee has served part of the Contract Period, the amount of ... comfy woodsy washington neighborhoods

Free Employment Contract (Samples & Templates)

WebMar 10, 2024 · An employment bond is an agreement entered into by an employer with an employee. This agreement would state that the employee is required to remain with the company for a minimum period of time after joining the company, and in scenarios where they are sent for training. Usually, the employer and the employee would further agree … There are several different meanings for the phrase ’employment bond’, so it’s entirely understandable if you’ve read conflicting explanations about just what constitutes an employment bond. In essence, employment bonds are simply a fidelity bond, which is a bond that provides some degree of … See more Under the general heading of ’employment bonds’, there are a number of different scenarios why this kind of bond would be purchased. First of all, as is the case with all bonds, there are three parties involved in a bond purchase – … See more Some situations call for an individual to purchase a bond that protects his company (himself) against any kind of damage which might be caused to a client’s property … See more The coverage parameters of bonds can also be variable. A company can choose to protect itself from the potential acts of a single employee, or it can use a blanket employee bond to be protected against the acts of anyone … See more Yet another type of employment bond definition is the one which is agreed to by a company and employee at the time of hiring. The terms of this kind of bond state that, in return for receiving training and financial investment … See more WebWhat is an employee bond? An employment bond is an insurance that safeguards an employer when employees perform dishonest or fraudulent acts. Typically, employers buy fidelity bonds for workers who can access the company’s assets (e.g., an accountant). This type of insurance reimburses a company in case an employee does a criminal act. comfy workplace