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Employment Bond

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1 Employment Bond on Wed Nov 30, 2011 4:49 pm

ece0035660


Arresto Menor
Good day po.

Wanna ask about employment bond. I've read alot of topics here about it. Just wanna know about my case.
I signed a contract that says something about a bond of 300,000.00 for 36months.
as per contract:
...
"3. All expenses for the said training shall be advanced by the COMPANY. However, in order to allow the COMPANY to recover a fair return on its training investments, the EMPLOYEE agrees to remain in the employ of the COMPANY, for a minimum period of thirty six (36) months which shall be counted from the date of this contract.

4. If, for any reason, the EMPLOYEE leaves his employment with or is terminated for cause by the COMPANY, before the end of the thirty six (36) month period in violation of the immediately preceding paragraph, the EMPLOYEE agrees to pay the COMPANY, among other remedies available to the COMPANY the amount of Three Hundred Thousand Pesos (Php 300,000.00) which shall serve as a training bond."

I've been with the company for a year and a half. Recently (Nov 29, 2011), I've rendered my resignation and wish to transfer to another company.
The company then is now asking me to pay 300,000.00 since I rendered my resignation after less than 36months of staying with them.

Just want to know if there's any way that the bond could be reduced?

I'm pretty sure that training espenses + my salary during training is way less than 300,000.00.

Are there factors in determining the reasonable amount of bond that a company should impose?

Right now they are asking me to issue 24 post dated cheques (300,000.00/24months) as payment for the bond on the 28th of Nivember 2011.

If I choose to appeal my case, and granted reduction in my bond amount, will I be able to get my post dated cheques back?

Thank you so much!

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2 Re: Employment Bond on Fri Dec 02, 2011 7:40 pm

attyLLL


moderator
http://www.google.com/cse?cx=partner-pub-6855083666886697%3Aswhy8nr9q5q&ie=ISO-8859-1&q=bnd&sa=Search#gsc.tab=0&gsc.q=bond


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3 Re: Employment Bond on Sun Dec 04, 2011 9:15 pm

ece0035660


Arresto Menor
I've seen this before...

They actually have the contract notarized, and they said it's final and I can't do anything about it but pay the 300,000.00 they were asking.

Anyway, thank you sir

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4 Re: Employment Bond on Sat Oct 19, 2013 3:53 pm

alexisbantilan


Reclusion Perpetua
You can file unjust enrichment case against that company. Though the bond is enforceable, at least the labor will have to check if its good price or overpriced contract.

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5 Re: Employment Bond on Mon Nov 11, 2013 5:36 pm

PH_Employee


Arresto Menor
alexisbantilan wrote:You can file unjust enrichment case against that company. Though the bond is enforceable, at least the labor will have to check if its good price or overpriced contract.
hi atty, i have a query connected to this.

if in the training bond agreement it states that employee must pay the 'total expenses (php100k++)' whereas it is not the 'actual expenses (php10k)' which can be justified by receipts. can employee contest that 'total expenses' is overpriced?

also, if when 'conference' was the attended event and not a 'training', also confirmed by the conference provider that it wasn't a training, is that considered 'unjust enrichment'?

hope you can advise. thank you.

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6 Re: Employment Bond Today at 8:15 pm

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