Training engineers abroad - draft bond required

Dear all,
Our company is sending some engineers abroad for training. The task of signing bond from them are given to me.
pls. suggest draft bond which can help me in preparing a bond on which they can sign.

it is organization specific. U need to discuss with your management regarding the terms of the agreement. i will forward u once u r done.
Regards,
Deepa.

Hai Guys,

Please find below the format for Service Bond For Training Abroad. I found this while browsing on CiteHR.It Had been very useful for me and i have started implementing this in my office here in Qatar.I would like to thank Cite HR for helping me out at various points.

Hope this is useful to you all also.

SERVICE BOND FOR TRAINING ABROAD

THIS BOND is given by me the undersigned Mr. _________________________ employee at _______________________________ (Hereinafter referred to as “the Company”) as follows:

WHEREAS –

A. I have been in the employ of the Company as a ____________________________since __________

B. In order to assist me in acquiring certain specialized technical skills and knowledge in production and help me better understand the products, the Company has arranged training in__________ by incurring all expenses of training, traveling and board and lodging.

C. The Company has agreed to sponsor me for specialized training in _______________as foretasted on the condition that I execute this Bond and obtain a guarantee in favour of the Company as hereinafter provided.

NOW THEREFORE I HEREBY AGREE AS FOLLOWS:

1. I hereby agree to bind myself to serve the Company for a minimum period of __________ year from the date of my return after completion of training in ________.

2. I shall not, for a period of ____year from the date of my return, secure or attempt to secure any other job without the previous written consent of the Company.

3. I shall not at any time or times, without the consent of the Company, either during the term of my employment or thereafter, disclose, divulge or make public technical or business know-how or information acquired by me in the course of my said training in __________.

4. In the event of breach of terms of any of the Clauses foregoing, I undertake to pay to the Company the amount which the Company has spent towards my training, traveling and board and lodging expenses.

5. If I fail to pay the amount, the Company shall be entitled to recover the same from me or from the guarantor hereinafter mentioned entirely at my and the said guarantor’s risk as to costs and consequences.

Dated this day of ________________________

Employee No.

Signature of the Employee: