GUARANTEE
BY FATHER OF THE TRAINEE [CD1]
Whereas My Son Mr.________________ hereinafter referred as “Trainee”
was appointed “Trainee” M/s
_______________________, a Company, having its Registered Office at
..........................................., hereinafter referred to as the
"Principal Consultant" and I,
Mr.
...................................................,
S/o .....................................................,
R/o................................................... hereinafter
refereed to as "Guarantor", held and firmly bound with by in the
penal sum of Rupees __________/- (____________________________ only), to be
paid to the said "Principal Consultant" the payment of which will be
made by me in case of any default by “Trainee” as per the terms of the letter
of appointment issued by the "Principal Consultant".
"Trainee" while undertaking and Guaranteed to work with
the "Principal Consultant" for a minimum period of 24 months from the
date of joining of the employment. In
the eventuality of "Trainee" leaving before to the statutory
period of service of 12 months, the "Trainee" has undertaken to pay sum
of Rupee _______ /- (Rs. ______________________________________ only) to the
"Principal Consultant" towards liquidated damages for contravening
the terms of appointment and breach of the Bond Service.
And Whereas the "Guarantor", being father of "Trainee"
fully knowing the terms and conditions of the employment and the Bond of
Service, and has consented to stand guarantee on behalf of the
"Trainee" for due performance and fulfilment of the Bond Of Service
and the terms of the appointment and to compensate and keep compensated the
"Principal Consultant" against all losses /damages emerging out of
the non-performance and non-fulfilment of the obligations under the said Bond
of Service by the "Trainee".
Therefore This Agreement is Witnesseth as Follows:
1. That if the "Trainee", per the terms and conditions of his
appointment and the Bond of Service executed favouring of the "Principal
Consultant", shall continue to serve the "Principal Consultant"
for the fixed statutory period of 12
months from the date of joining the service with the Principal
Consultant, and compensate and keep compensated the "Principal
Consultant" against any breach of the terms of the appointment or the Bond
of Service, then the above written guarantee nullity and be ineffective,
otherwise the same shall be remain fully enforceable and reasoned.
2. That if the "Trainee" being guilty of breach of the terms
/conditions of the appointment and the Bond of Service or leaves the Employment
with the "Principal Consultant" prior serving the statutory period of
12 months, the "Guarantor" shall pay forthwith to the "Principal
Consultant" the sum of Rupee _______
(Rs._________________________________________________ only) towards liquidated
damages, and the "Principal Consultant" shall have right in enforcing
this guarantee against the "Guarantor" without prior exercising its
option to recovering the said sum from the "Trainee".
3. That this guarantee is irrevocable.
Date:
Signature
Witness
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