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Company Bond Legal or Not?

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1 Company Bond Legal or Not? on Wed May 24, 2017 10:41 am

SSA08


Arresto Menor
Good day!

I will just post my concern about our company bond.
Pinapirmahan sya samin nung nasa country na kami ng training and hindi naipaliwanag na may bond pala kami bago umalis.

Ano ba ground for termination ng mga company bonds?

Thanks in advance.

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2 Re: Company Bond Legal or Not? on Thu May 25, 2017 5:00 pm

Jadis

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Reclusion Perpetua
What are the terms and conditions of the bond?

These types of undertakings are usually made to ensure that the employee does not leave the company immediately after receiving valuable training that cost a lot of money, effort and time for the company. I have made a similar inquiry regarding this with the DOLE, and they have told me that these agreements are not illegal provided that the penalties for breach and the conditions imposed on the employee are commensurate to the value of what the company expended for the training.

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3 Re: Company Bond Legal or Not? on Thu May 25, 2017 5:35 pm

SSA08


Arresto Menor
So I don't have to consider if notarized ba sya o hindi?
Or yung contract napapirmahan agad sakin bago ako umalis for my training.
Because in my case, I really don't have an idea na may bond pala.
Saka ko na lang nalaman nung may pipirmahan na kami and andun na kami for almost a month.

Thank you for your reply. Smile

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4 Re: Company Bond Legal or Not? on Thu May 25, 2017 5:45 pm

Jadis

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Reclusion Perpetua
Contracts don't have to be in a prescribed form to be valid, unless the law requires a specific form (i.e. a donation of real property must be in a public document).

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5 Re: Company Bond Legal or Not? on Fri May 26, 2017 7:56 am

Patok


Reclusion Perpetua
so that means you signed the contract with bond??

Sana tinanong mo, what will happen if you don't sign the contract..

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