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Buyout Clause

yy
Member
Thu, 29 Dec 2016 10:36:40 PM  (Last updated: Sat, 31 Dec 2016 04:22:27 PM)

Good Evening,

I have a query in regards to the buyout clause that my hiring company.

I am working for Company B and I recently been offered to join Company C with the conditions of Company C will buy me out if there was any bond from my current Company B verbally. During the course of the interview, I have not verbally mentioned to Company C that I have an existing bond that I am currently serving and they have failed to ask of me if I had any bond and brought to assumption based on what they had mentioned that they will buyout any clause (if I had any).

However, during the course of the offer letter, I have forwarded information of my bond and acceptance of resignation to Company C HR department with the acknowledgement from the HR that payment of my bond will be released upon joining of Company C which this is recorded in a black and white email.

During the course of my resignation, 2 weeks prior to my actual working date, Company C HR informed that they will not be honoring the agreement of the buyout clause and has stated they had a miscommunication in regards to the buyout. Therefore, I am forced to pay this bond, regardless of the black and white email that was written by Company C HR department.

Kindly please advise if there is any course of action that I can take legally?

KL Siew
Administrator
Sat, 31 Dec 2016 04:22:27 PM

Consult a lawyer see whether you can sue.

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