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    Format Bond

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    Sagar Gupta
    1. The document is a service bond for a new Probationary Officer being appointed at Bank of Baroda. 2. It requires the new employee to serve the bank for a minimum of 3 years, during which they cannot resign or take another job without permission. 3. If the employee leaves the bank's employment before 3 years, they must pay the bank 3 lakhs rupees unless their employment is terminated earlier by the bank.

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    Format Bond

    Uploaded by

    Sagar Gupta
    176 views2 pages
    1. The document is a service bond for a new Probationary Officer being appointed at Bank of Baroda. 2. It requires the new employee to serve the bank for a minimum of 3 years, during which they cannot resign or take another job without permission. 3. If the employee leaves the bank's employment before 3 years, they must pay the bank 3 lakhs rupees unless their employment is terminated earlier by the bank.

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    1. The document is a service bond for a new Probationary Officer being appointed at Bank of Baroda. 2. It requires the new employee to serve the bank for a minimum of 3 years, during which they cannot resign or take another job without permission. 3. If the employee leaves the bank's employment before 3 years, they must pay the bank 3 lakhs rupees unless their employment is terminated earlier by the bank.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    176 views2 pages

    Format Bond

    Uploaded by

    Sagar Gupta
    1. The document is a service bond for a new Probationary Officer being appointed at Bank of Baroda. 2. It requires the new employee to serve the bank for a minimum of 3 years, during which they cannot resign or take another job without permission. 3. If the employee leaves the bank's employment before 3 years, they must pay the bank 3 lakhs rupees unless their employment is terminated earlier by the bank.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 2

    FORMAT

    (ON STAMP PAPER AS PER STAMP DUTY APPLICABLE IN YOUR


    STATE WHERE YOU ARE JOINING)
    SERVICE BOND
    THE MANAGING DIRECTOR & CEO,
    BANK OF BARODA,
    BARODA CORPORATE CENTRE,
    C-26, G-BLOCK,
    BANDRA KURLA COMPLEX,
    MUMBAI-400 051
    Dear Sir,
    Re:

    Appointment as Probationary Officer in Banks service in


    JMG/S I.

    WHEREAS
    I . S/o/D/o/W/o presently residing
    at

    have been offered an appointment as Officer in the scale of JMGSI by Bank of Baroda (herein-after referred to as Bank) and in the course of
    my engagement as such the Bank would enable me to acquire certain
    special skills and experience in the Banking sector. As a term of my
    appointment, I am required to execute this service Bond assuring the
    continuance of my service and faithful performance of the duties for a
    minimum period of three years starting from the date of my entry into the
    services of the Bank to which I agree and also hereby assure and undertake
    as under:
    1. I shall continue in the service of the Bank and render my services
    at any of its Branches/offices at any place as may be decided by
    the Bank at its absolute discretion.
    2. I shall be in the service of the Bank for at least a period of three
    years from the date of joining. I shall continue in service as
    aforesaid during the pleasure of the Bank and my services are
    liable
    to
    be
    terminated
    in
    terms
    of
    extant
    guidelines/rules/regulations of Bank of Baroda as well as specific
    terms stipulated in my appointment letter.
    3. I shall not, without the express prior approval in writing of the
    competent authority, apply for any job or take up any other office
    of profit; nor shall I resign or abandon the service of the Bank
    during the said period of three years.
    4. My employment as stated above shall be subject to such rules,
    regulations, terms etc, as the Bank may in its absolute discretion
    stipulate for its regular employees from time to time.
    5. In the event of non-fulfillment/breach of any of my obligations to
    the Bank as stated in clause (2) above other than on account of the
    termination of my service by the Bank in terms of extant
    regulations or if I fail to serve the Bank for the minimum period of

    three years as already stated above or for any reason whatsoever,


    I shall pay to the Bank an amount of ` 3 lacs in lieu thereof.

    2/:: 2 ::
    If a situation as stated in clause (5) above arises, I shall be personally
    liable to pay the amount due as per the terms stated therein to the
    Bank notwithstanding and without prejudice to the right of the Bank
    to recover the amount from any sum that may be due to me by way
    of monthly/annual compensation, terminal benefits or other- wise and
    also without prejudice to Banks right to take any action as may be
    deemed appropriate by it.
    I do hereby irrevocably submit and agree that all disputes, if any,
    arising out of this Bond shall be subject to the non-exclusive
    jurisdiction of the Courts at Mumbai which shall be without prejudice
    to the right of the Bank in its option to initiate appropriate
    proceedings arising out of these presents, before any other Court/s in
    India.
    In witness whereof I have subscribed my
    signature on this the day of .. 20
    .

    Witness
    Signed and delivered by
    Shri .
    In the presence of Shri
    ..
    official)-at (place).
    on (date)

    ------(Signature of executant)----

    ------(Signature of Bank

    ***********************************

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