Sample Training Bond Agreement Malaysia

When it comes to hiring new employees, many companies in Malaysia require a training bond agreement as a way to ensure that their investment in the employee`s training will pay off in the long run. A training bond agreement is a legal contract between the employer and employee that outlines the terms and conditions of the employee`s training and their commitment to staying with the company for a specified period of time.

Here is a sample training bond agreement that companies in Malaysia may use:

Training Bond Agreement

1. Parties Involved

This training bond agreement is entered into on [date] between [company name], a company registered in Malaysia with a registered office at [address], hereinafter referred to as the “Employer”, and [employee name], residing at [address], hereinafter referred to as the “Employee.”

2. Training Period

The Employee will undergo training for a period of [timeframe] starting on [start date] and ending on [end date]. The Employer will provide the necessary training and resources to the Employee to enable them to gain a full understanding of the job duties and responsibilities.

3. Obligations of Employee

In consideration for the training provided by the Employer, the Employee agrees to the following obligations:

a. To complete the training period as outlined in this agreement.

b. To perform their duties efficiently and to the best of their ability.

c. To refrain from disclosing any confidential information or trade secrets related to the Employer`s business.

d. To reimburse the Employer for any costs or expenses incurred in the event of a breach of this agreement.

4. Obligations of Employer

The Employer agrees to provide the Employee with the following:

a. Necessary training and resources to equip them with the skills and knowledge required to perform their job duties.

b. A safe and conducive working environment.

c. A salary and benefits as outlined in the Employee`s employment contract.

5. Bond Period

The Employee agrees to remain in the employment of the Employer for a minimum period of [bond period] after the completion of the training period. The Employee agrees to pay the Employer a sum of [bond amount] in the event of a breach of this bond agreement.

6. Termination

This agreement may be terminated by either party by giving [notice period] days` written notice to the other party.

7. Governing Law and Jurisdiction

This agreement shall be governed by and construed in accordance with the laws of Malaysia, and any disputes arising from this agreement shall be subject to the exclusive jurisdiction of the courts of Malaysia.

Conclusion

A training bond agreement is an essential document for any company in Malaysia that invests heavily in employee training. By having a training bond agreement in place, companies can ensure that their investment in the employee`s training will be worthwhile and that the employee will remain with the company for a specified period of time. The sample training bond agreement provided here is a good starting point for companies to draft their own training bond agreements that meet their specific needs and requirements.