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Work bond contract/agreement without acknowledgement

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Iceman


Arresto Menor
Hello Good day!

My employer sent me overseas for training. In return I shall serve to stay in the company for the next 12 months after the training. In case of leaving the company within that 12 months I shall pay the pro-rated amount of my total expenses during the training plus no less than 10% liquidated damages. On my 4th month of stay I was given the opportunity to work to the company I am eyeing. I filed my resignation. Upon my exit I was surprise to see that the agreement I signed before my training was not signed by the company president and the agreement was not notarized.

Please help me regarding my questions:

1) Is the agreement I signed before the training valid even though I feel it was a one way agreement since I was the only one who signed it and it was not notarized?

2) Should I secure a duly signed and notarized agreement before I proceed with the training?

3)Will the agreement be void if the company didn't provide me a duly signed copy before I proceed with the training?

4) Our co. president was already been replaced by a new president, If I demand a copy of agreement with the signature of previous co. president will it still be valid should the successor co. president signed on it on behalf of previous co. president?

5) My new employer requires 2316 and Cert of employment from previous employer, can I demand my previous employer for the said files while we are on the process of settling my contract/backpay?

6) what is liquidated damages? How to quantify "liquidated damages"?

Looking forward to your comments and response.

Thank you very much!

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council


Reclusion Perpetua
Iceman wrote:Hello Good day!

My employer sent me overseas for training. In return I shall serve to stay in the company for the next 12 months after the training. In case of leaving the company within that 12 months I shall pay the pro-rated amount of my total expenses during the training plus no less than 10% liquidated damages. On my 4th month of stay I was given the opportunity to work to the company I am eyeing. I filed my resignation. Upon my exit I was surprise to see that the agreement I signed before my training was not signed by the company president and the agreement was not notarized.

Please help me regarding my questions:

1) Is the agreement I signed before the training valid even though I feel it was a one way agreement since I was the only one who signed it and it was not notarized?

2)  Should I secure a duly signed and notarized agreement before I proceed with the training?

3)Will the agreement be void if the company didn't provide me a duly signed copy before I proceed with the training?

4) Our co. president was already been replaced by a new president, If I demand a copy of agreement with the signature of previous co. president will it still be valid should the successor co. president signed on it on behalf of previous co. president?

5) My new employer requires 2316 and Cert of employment from previous employer, can I demand my previous employer for the said files while we are on the process of settling my contract/backpay?

6) what is liquidated damages? How to quantify "liquidated damages"?

Looking forward to your comments and response.

Thank you very much!

1. It may still be valid since you agreed to the terms.

2. There is no need for a notarized document.

3. No.

4. Yes.

5. No. The 2316 comes as a result of computation of all your monetary dues. It does not make sense to give you a 2316 if there is no correct computation yet.

6. Liquidated damages (also referred to as liquidated and ascertained damages) are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance). So the liquidated damages would be based on the pro-rated amount you still owe.

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