Your contract is for a year. That is the one of the components of the bond. It is short of the contracted period thus violation in item 15 is invoked.
An employee bond in principle is "employer hires you and prepares you for the job through training, certification etc in case of a technical related function." Employer spends for you and can recover the cost only after a period of time. If you resign before the contracted period, a value is set. (In the case of employees handling cash of the companies like cashiers, salesmen, disers etc, they are required to post a cash bond to secure the company's financials in case of misuse. This is refundable.)
However, some companies use the pro-rated employment bond e.g. how much is the balance cost I still have to pay having worked for you for long.
Some lawyers push their clients to ask for facts and figures like how much did you really spend for my training. Show me the receipts.
If you leave without paying the bond, the employer can withhold final pay, clearances, accumulated credits and worse file a case which can result in a hit in your NBI clearance.
Still ask around though. Hope this helps.