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Such employment bonds are agreements between the employer and employee wherein among other terms & conditions of the employment, an additional clause is incorporated which requires the employee to serve the employer compulsorily for a specific time period else refund the amount specified as bond value.
An employment contract is âa legally enforceable agreement, either oral or written â¦ which defines terms and conditions of employment,â according to QFinance. The contract lists the rights, expectations and obligations of both the company and the individual. contract can completely negate at-will employment, which makes it a useful tool for enticing new employees. Even without a specific agreement, a Find Law article in Reuters upholds that âthe behavior of the employer and the employee can be viewed as an implied employment contract.â.