Bond..James Bond_Full Score and PartsDescription complète
Legal DocumentFull description
Training Bond Agreement (Company Name) is committed to investing their resources in the training and development of their employees. As such (Company Name) promotes the attainment of marketable skills by sponsoring eligible employees through in-house training programs. (Company Name) has a reasonable expectation that the employee will apply the knowledge and skills on the job, as well as share this knowledge with other employees, whenever possible, to maximize the positive impact of the learned skills in their work environment. Considering the significant investment that training represents, (Company Name) will seek assurances in the form of this bond, to ensure that the employee will not defect to another employer before the cost of the training is amortized. The Employee as such agrees to continue their employment with (Company Name) for a minimum period of (XX months, years) commencing from date of training completion.
Repayment Terms If an employee voluntarily leaves the organization within (# of months/years) of completion of training, the employee will be required to re-pay the cost of training on a pro-rated basis. Be it understood that the amount of the bond will not exceed the cost of the training program. (Company Name) will reduce the value of the training bond at fixed intervals as the employee works off his or her obligations during the post-training period as outlined below.
.
Employment ending within: 6 months of completion 12 months of completion 18 months of completion 24 months of completion
As well, the Employee must sign and agree that in the event that the employment relationship is severed before such training costs have been amortized, the employer reserves the right to deduct monies owed from the employee’s final pay including any provisions under the Employment Standards Act.
Templates and policies from HRdownloads.com are provided for clients of our service. Customers may use this document as is, or as a starting point for their own documents. HRdownloads.com assumes no responsibility for the enforcement or effectiveness of its templates and policies. Always consult legal counsel before implementing any new policies or procedures at your organization.
Acknowledgement & Agreement I, (Employee Name), acknowledge that I have read and understand the terms and conditions of this Training Bond Agreement. I shall indemnify (Company Name) in the case of leaving the employment before the minimum period of service agreed upon in this bond. Furthermore, I, (Employee Name) agree that in the event that our employment relation is severed for any reason before the remaining balance of any monies owing in relation to this advancement for training is repaid, then the amount owing will be deducted from any final wages, accrued vacation pay and applicable severance/notice payments, with any remainder being pursued through legal means. Employee Name:
____________________________________
Employee Signature:
____________________________________
Date:
____________________________________
Witness:
____________________________________
Templates and policies from HRdownloads.com are provided for clients of our service. Customers may use this document as is, or as a starting point for their own documents. HRdownloads.com assumes no responsibility for the enforcement or effectiveness of its templates and policies. Always consult legal counsel before implementing any new policies or procedures at your organization.
