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TOPIC: ENFORCEABILITY OF CASH/TRAINING BOND COTRACT

ENFORCEABILITY OF CASH/TRAINING BOND COTRACT 3 years 1 month ago #17078

  • CJ
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I am writing to ask for enlightenment, any legal advice about a training bond contract I signed when I got hired in a private company.

I am currently in a regular appointment as an accounting assistant in the company.
Ten percent (10%) of my basic salary is automatically deducted bi-monthly every payroll period. The accumulated deductions are more or less 4,500 as of the last pay day.

Another employer offered me a better job, but the bond is holding me back to grab the opportunity. It is stipulated in my current employment training bond contract that in case I leave the job before three (3) years from the date of my original appointment and the bond is not yet fully settled, I will be obliged to pay the balance so I can get cleared and be issued a certificate of employment.

Applying to my case, if I decide to leave, I will be obliged to settle more or less 20,500 before I can get cleared, an amount I can hardly afford, so much so that I believe that the company will be unjustly enriched at my expense.

I am well aware that a training bond contract serves as a security for an employer to defray any losses in cases of damages caused by employees' fault or negligence. Isn't it unfair to charge an employee of good record any amount not even accruing against him as a result of his fault or negligence, but just because an amount due to be accumulated from his salaries for the employer's security is not fully reserved due to pretermination of the training bond contract?

I am greatly in an urgent situation now, I cannot turn down the good opportunities waiting in my prospect employer.

Please, I am already desperate so I am extending my concern to your office.

Thank you so so much for any response.
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