100 rs bond

piyush pandey (Querist) 08 July 2010 This query is : Resolved
Dear sir, if a institute get in a bond of 100 rs stamp with the faculty that the faculty will not leave the college for 1 year.what will be validity of that 100 rs stamp paper signed by the faculty.

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adv. rajeev ( rajoo ) (Expert) 08 July 2010
the validity of the stamp paper is 3 years, but in this case agreement is for only 1 year, after one year agreement will not be valid.

mahendrakumar (Expert) 09 July 2010
you are bound to follow the terms of the agreement for one year.

in case you leave the institute before,you have to compensate them as per the terms in the contract/bond.

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