Bond

1. AN AGREEMENT made on this day the .....................

between Mr./ Ms . aged .. years.
S/o / d/o (hereinafter called the
Management Trainee (HR) of the first part and Hindustan
Shipyard Ltd., Visakhapatnam (hereinafter called the
company) of the second part.
2. Whereas the Company has introduced a scheme of
training personnel for the shipyard.
3. Whereas the company has selected the Management
Trainee (HR) for the purpose of training and subsequent
absorption in the E1 pay scale, after successful completion
of training. Whereas Mr. / Ms. .
s/o / D/o has agreed to join the
company as and undergo
training on the terms and conditions stipulated in his / her
offer of appointment.
3.1. Whereas Mr. / Ms. S/o / D/o
.. has agreed to undergo training
as above and to serve the company for a minimum
period of 5 years from the date of joining.
4. Whereas Mr. / Ms. aged
years S/o / D/o (give
full
address)
and
Mr./
Ms.
aged . Years. S/o /
D/o . (give full
address) have agreed to stand as sureties jointly and
severally for the due performance on the part of the
Management Trainee and executed this Bond on
and have herein enclosed the surety
certificate from the respective employers as prescribed.
5. Whereas the company shall pay Rs. 15000/- P.M. (Rupees
Fifteen Thousand only) as stipend to the Management
Trainee (HR) during the training period.
6. Whereas the said Management Trainee (HR) has a
accepted the stipulations and it is hereby agreed as
follows;

i)

The Management Trainee (HR) shall be bound

a)

To undergo the training provided by the

company for a period of one year and thereafter
work on probation for a minimum period of one
year which can be extended at the discretion of
the company. During the above period the
Management