Employee training Bond contract is the agreement made between the trainer and the trainee, the trainer being the employer and the apprentice being the employee. This agreement ensures that the employee once trained will in return work in the position they have agreed with the employer and the employer will provide all the requirements.
Sample of an Employee Training Bond Agreement
Training Bond Agreement
The articles of agreement made and executed on this 25th day of August 2016.
The Institute of Management of P.O. Box 2987 - 00100 represented by duly authorized regional manager Mr. Saman Kinh herein referred as 'the institute' and shall mean and include The Institute of Management or the 'employer.' as constituted today or from time to time during the undertaking of this agreement
of the first part
Mrs. Gainer Beirut of 34567 - 00200 aged 39 years occupation Administration Assistant herein referred to as the 'employee' as it is required or permitted.
Of the second part
and whereby the employee has been working as the Administration Assistant in the Institute from 2012.
And whereby the employer has felt the need to enter into an agreement of one year five months valid from 12th September 2016 with the employee being given all the costs incurred by the Employer concerning the training and career development.
And whereby the employee has agreed to undertake the service bond for the one year five months period that the company is offering from the 12th September 2016 following the terms and conditions discussed and agreed.
The reviewed and agreed terms are:
- The employee agrees to enter into the training bond agreement with the Institute for one year five months from 12th September 2016 to 12th February 2017 under the following terms and conditions.
- Whatever reason that might prompt the employee to leave the institute, he shall have to pay the institute a pro rata share of the training costs that are not paid by way of service.
- The institute shall pay the employee US$ 5000 on successful completion of the training as decided by the Institute and later placed in the suitable position as agreed before the training.
- During the training, the employee must show diligence in their performance and attend all training without fail or else face a termination with a month's notice or a month's payment to the institute.
(The company is allowed to add on as many terms and conditions as possible.)
In witness, the Institute has set the signature of the Regional Manager as the designated contact and the employee in the presence of the two witnesses.
Name of the Regional Manager
Name of the Employee