Withdrawing guarantor signature from company service bond
G.P.Sharma
(Querist) 16 April 2014
This query is : Resolved
Dear Sirs,
Recently i have signed on a XYZ co. service bond of my friend's relative as an guarantor without studying the matter on the bonddue to force . later i came to that person's character was not good. so now i want to withdraw my signature as guarantor from the above said bond. how i can do this? please tell me the complete legal procedure to withdraw my signature.
please help me and save from future risk.
Thanks in advance...
Ragards,
Sharma
Guest
(Expert) 16 April 2014
Send registered notice to the company indication from which date you have withdrawn guarantee of the employee and that the company may arrange to get fresh service bond of the employee or a fresh guarantee on his bond and that from that specific date you would not be responsible for any violation of the terms of bond by the employee.
Advocate. Arunagiri
(Expert) 16 April 2014
Please note that if you send a communication to the employer that you want to withdraw your guarantor-ship, your friends relative may loose his job.
It is upto the employer to accept your withdrawal.
Kumar Doab
(Expert) 16 April 2014
If the company has not supplied you the certified copy of the service BOND then do remember to mention the same and demand acknowledgment of your letter under seal and signature of the competent official ( on the copy of your letter)and a copy of document bearing your signature and signature of company's official that is competent to sign.
If the company has not incurred expenses on employee that might add some extra ordinary skills, qualification to employee................the BOND may very well be unenforceable.
A competent and experienced labor consultant/service lawyer that has examined the BOND can update you on its enforce-ability.
Majority of the times the BONDS are drafted , by the employers just for the heck of it, as it has become a global fad.
G.P.Sharma
(Querist) 17 April 2014
Respected sirs,
Thank you very much for your time attention.
Company has not supplied me the certified copy of the bond.
I don’t know anything about that person employment details like his department, designation and work location etc.. I only know the company location where I signed the bond but not complete address.
I am ready to send legal notices to the company but whom should I address whether the office where I signed or head office of the company.
My friend is not co operating with me to get details about the company and his relative (bond holder).
My question is after sending the legal notice to the company, incase any reply not got from the company what to do?
Getting certified copy of the bond is must?? If yes from whom should I get the employee or company?
If they are ready to allow me withdrawing guarantor signature what is the procedure and what are the documents should I get from the person and company side, saying that no way connection with the person and company. Is there any possibilities to cancel the bond mutually understanding manner?
Please please advice me on above matter.
Thanks in advance…
Sharma
G.P.Sharma
(Querist) 17 April 2014
Respected sirs,
Thank you very much for your time attention.
Company has not supplied me the certified copy of the bond.
I don’t know anything about that person employment details like his department, designation and work location etc.. I only know the company location where I signed the bond but not complete address.
I am ready to send legal notices to the company but whom should I address whether the office where I signed or head office of the company.
My friend is not co operating with me to get details about the company and his relative (bond holder).
My question is after sending the legal notice to the company, incase any reply not got from the company what to do?
Getting certified copy of the bond is must?? If yes from whom should I get the employee or company?
If they are ready to allow me withdrawing guarantor signature what is the procedure and what are the documents should I get from the person and company side, saying that no way connection with the person and company. Is there any possibilities to cancel the bond mutually understanding manner?
Please please advice me on above matter.
Thanks in advance…
Sharma
G.P.Sharma
(Querist) 17 April 2014
Respected sirs,
Thank you very much for your time attention.
Company has not supplied me the certified copy of the bond.
I don’t know anything about that person employment details like his department, designation and work location etc.. I only know the company location where I signed the bond but not complete address.
I am ready to send legal notices to the company but whom should I address whether the office where I signed or head office of the company.
My friend is not co operating with me to get details about the company and his relative (bond holder).
My question is after sending the legal notice to the company, incase any reply not got from the company what to do?
Getting certified copy of the bond is must?? If yes from whom should I get the employee or company?
If they are ready to allow me withdrawing guarantor signature what is the procedure and what are the documents should I get from the person and company side, saying that no way connection with the person and company. Is there any possibilities to cancel the bond mutually understanding manner?
Please please advice me on above matter.
Thanks in advance…
Sharma
G.P.Sharma
(Querist) 17 April 2014
i appeared before the HR person the company at the time making signature.after that i haven't contacted the company.
ajay sethi
(Expert) 17 April 2014
send a letter to company Secretary of company / HR department by Regd post AD requesting them to furnish certified copy of bond . mention that you are with drawing as guarantor and you shall not be responsible for said employee
Guest
(Expert) 17 April 2014
You need not appear before the HR. Send notice and wait for the response and decide further course of action based on response.
Kumar Doab
(Expert) 17 April 2014
So you are aware of the address where you appeared.
You may take a stand that it was stated by Mr/Ms.................designation...........who produced the BOND before you, that the certified copy shall be supplied to you (and may add that………………… after the signature of competent employee of the company hose signature was not affixed by the time you signed………………………….if it is true.) by redg. Post, and has not been supplied till date.
You may write to the BM of the office where you appeared and MD of the company at its corporate/redg. Office/HO, by redg. Post and obtain POD and certified copy of run sheet of postman from PO.
Avoid telephonic discussions and record all calls.
Persuade your friend and relative too to show you the copy of BOND and then get it examined by a Labor Consultant/service lawyer to allay their apprehensions……………………………The lawyer may opine that BOND is UN-enforceable, void, unconscionable, unreasonable………………………….Let everyone be properly informed. Ill informed employees be it even HR personnel are susceptible to exploitation.
