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bonded by company

john
Member
Wed, 05 Dec 2018 04:24:16 PM  (Last updated: Wed, 05 Dec 2018 04:44:29 PM)

I signed a 3 year bond with a company I'm working in. If i want to leave early, what is the procedure? I have found out the policy of the company in their website and it says the company will not tolerate bonding their employees. Will the company void the bond according to their policy?

SuharinKL
Contributor
Wed, 05 Dec 2018 04:31:12 PM
Originally posted by john on Wed, 05 Dec 2018 04:44:29 PM

I signed a 3 year bond with a company I'm working in. If i want to leave early, what is the procedure? I have found out the policy of the company in their website and it says the company will not tolerate bonding their employees. Will the company void the bond according to their policy?

Usually in bonding agreement, there will be agreed 'penalty' for any early termination. For example, the remaining balance of the bonding agreement etc. 

If you are ready to comply with the penalty, you may leave/ resign early. Failing which, the company may take legal action to enforce the penalty.

Regards,

suharinsulaiman@gmail.com

john
Member
Wed, 05 Dec 2018 04:37:34 PM

Even if the company policy clearly stated that it will not bond the employees in their company website as it is against their company principles?

john
Member
Wed, 05 Dec 2018 04:42:24 PM
Originally posted by SuharinKL on Wed, 05 Dec 2018 04:31:12 PM

Usually in bonding agreement, there will be agreed 'penalty' for any early termination. For example, the remaining balance of the bonding agreement etc. 

If you are ready to comply with the penalty, you may leave/ resign early. Failing which, the company may take legal action to enforce the penalty.

Regards,

suharinsulaiman@gmail.com

Even if the company policy clearly stated that it will not bond the employees in their company website as it is against their company principles?

SuharinKL
Contributor
Wed, 05 Dec 2018 04:44:29 PM
Originally posted by john on Wed, 05 Dec 2018 04:37:34 PM

Even if the company policy clearly stated that it will not bond the employees in their company website as it is against their company principles?

The general legal principle of a legally binding agreement/contract is that parties are bound by the terms and conditions of the agreement/ contract once parties signed it. 

Parties may not bring in any other extrinsic/ external matters so as to form part of the terms and conditions. Unless it is specifically mentioned in the bonding agreement/ contract that the agreement/ contract shall read together with other Co's policy.

Regards,

suharinsulaiman@gmail.com

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