Can I sign a bond for 2 years?
Answer – Yes, if you’re confused about the bond, be polite and say a No. State the reason for your denial and you’ll be fine. You can always say how obliged and grateful you’ll be to work with the company but working under a bond or legal term would only be stressful for you.
What does it mean sign a bond with a company?
If a company wants you to sign a bond for a certain amount of time, they consider themselves to be in a position to be able to pay you your salary for that period. This naturally means higher job security for you.
What is a 2 year bond?
Employee bond for 2 years is expected by most of the companies as it is an agreement with the employee to stay with the company for a particular period of time as they agreed. If he leaves without notice, he needs to pay for the same.
Is bond a contract?
bond, In law, a formal written agreement by which a person undertakes to perform a certain act (e.g., appearing in court or fulfilling the obligations of a contract). A bond is an incentive to fulfill an obligation; it also provides reassurance that compensation is available if the duty is not fulfilled.
What is the current 2 year Treasury rate?
Stats
Value from The Previous Market Day | 0.67\% |
---|---|
Change from The Previous Market Day | 2.99\% |
Value from 1 Year Ago | 0.11\% |
Change from 1 Year Ago | 527.3\% |
Frequency | Market Daily |
Who drafts the employee offer letter along with bond agreement?
If you are the HR Manager of your company then onus of drafting the employee offer letter along with the bond agreement lies on your shoulders. To help you deal with the confusion of how to frame such a letter, here is an example sample to which you can refer and create a similar draft for personalized use.
What happens if an employee does not complete a bond agreement?
If the employee doesn’t fulfil that, companies usually do not prefer taking the legal route, chase the employee and fetch the money mentioned under the bond agreement. Thats just too much for any company.
Are You bound by the terms contained in the offer letter?
Therefore you would be bound by the terms contained in the offer letter (whether there is any separate service agreement signed by you or not). You need to be the querist or approved LAWyersclub expert to take part in this query .
Is a service bond agreement with a company enforceable?
Any service bond agreement is not an enforceable contract. The modalities of your signing the agreement will not make a difference as the company cannot possibly have the agreement enforced by Court. Originally Answered: I have joined a MNC and they have a bond of 3 years with me, and the bond value is 2 lakhs.