EMPLOYMENT BOND

EMPLOYMENT BOND

 THIS AGREEMENT is made on  _____________________________ (date) between ____________________________________(Company name), having its registered office at. __________________________________________ (Address) (hereinafter called the “Company”) of the one part and ________________________________(Name of the employee) residing at __________________________________ (Address) (hereinafter called the “Employee”) of the other part.

Company and Employee collectively referred to as the “Parties” or individually as the “Party”) and includes that Party’s successors and assigns.

WHEREAS

  1. The company is desirous of employing_______________________________(Name of the employee) as its ____________________(Designation) and the Employee has agreed to the employment.
  2. The Employee resides overseas and will need to travel to _______________________where the Company is located to commence employment.
  3. On arrival, the Employee shall need to quarantine for _______days as part of the COVID 19 imposed restrictions before the commencement of employment.

NOW, THIS AGREEMENT WITNESSES AS FOLLOW:

  1. The Company shall pay the said quarantine fees of $ _______________________.
  2. In consideration of payment of this fee, you undertake and agree to continue to work with _________________________[Company Name] or any member of its group of companies (hereinafter collectively called “the Company”) for _________________years commencing from the date of employment. (hereinafter referred to as “employment bond”)
  3. In the event that you:
  4. Fail to complete the employment bond period for whatever reasons, other than medical or compassionate ground;
  5. Leave or resign from the Company on your own accord before the completion of the employment bond period;
  6. Are dismissed from the Company before the completion of the employment bond period; or
  7. Refuse or by your conduct render yourself unsuitable to serve or continue to serve the Company until completion of the employment bond period;

You agree to reimburse the Company, in full, the sum of $__________________being the cost spent by the Company for your quarantine within 30 days of termination of employment. The Company shall be entitled to set off, deduct, retain, or apply this sum from your last salary. If the last salary shall be inadequate, you shall be liable to reimburse the Company for any amounts due failure to which the Company shall be entitled to all costs of collection, including reasonable attorney’s fees.

  • This agreement shall be governed in all respects by the Laws of Singapore.

If you accept the above offer of the employment bond upon the terms specified above, please indicate your acceptance by signing.

Employee name: _______________________________________________

Employee signature: _____________________________________________

Date: _____________________________

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