A SURETY BOND Example


SURETY BOND


This Bond of dated the Monday of 05th February, 2007 (Christian era) executed by Mr. MD. ZIAUR RAHMAN son of Mr. Md. Abdur Rab residing at 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 hereinafter called the EMPLOYEE and (1) Mr. Md. Abdur Rab son of Late Abdul Aziz residing at 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 and (2) Mrs. Rokeya Begum wife of Mr. Md. Abdur Rab residing at 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 hereinafter called the GUARANTORS in favour of SHAHJALAL ISLAMI BANK LIMITED, incorporated under the companies  Act. 1994 hereinafter referred to as the BANK.

Whereas the Bank has been pleased to offer an appointment to the EMPLOYEE as TRAINEE OFFICER
And whereas the BANK has agreed to train him up at its own cost and expenses,
And whereas the EMPLOYEE has accepted and agreed to serve the BANK,
And whereas the BANK as a term of employment demanded of the EMPLOYEE to bind himself to the Bank to serve at least 05 (Five) consecutive years and to furnish 02 (Two) GUARANTORS to the satisfaction of the BANK,
And the EMPLOYEE has agreed to execute this surety bond along with two GUARANTORS indemnifying the BANK upon terms and conditions hereinafter stated:

01.       The EMPLOYEE, in consideration of offering employment ad employing him and in consideration of his being trained up by the BANK at its own cost and expenses, hereby undertakes and binds himself to serve the BANK for at least, a period of 05 (Five) continuous years from the date of his joining service in the BANK i. e. 05/02/2007.

Contd. P/2
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02.       The EMPLOYEE further agrees that he will not on any account, and of his own accord, discontinue, give up or abandon the service of the BANK before the said period of 05 (Five) years.

03.       The EMPLOYEE further undertakes and binds himself to compensate the BANK in the event of his discontinuing, giving up or abandoning services to end employee of the BANK at his own accord before the expiry of the said period of 05 (Five) years and to make good and pay to the BANK 50% of the total pay, allowance, bonus, etc. received by him forthwith.

04.       The GUARANTORS in consideration of the BANK offering employment and employing the EMPLOYEE undertake and bind themselves in the event of the EMPLOYEE discontinuing, giving up or abandoning his services/employment of the BANK before the expiry of the said period of 05 (Five) years and without the BANK discharging, dismissing him or terminating his services irrespective of whether a demand has been made on the EMPLOYEE or not, on demand by the BANK to made good and pay to the BANK 50% of the total pay, allowances, bonus, etc. received by the EMPLOYEE during the period of his services in the BANK.

In witness whereof the EMPLOYEE and the GUARANTORS have affixed their signatures on this bond in the presence of the following witnesses on the date mentioned above duly notarized :

Contd. P/3

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GUARANTORS :

1. Signature : ..............................

Full name : Mr. Md. Abdur Rab
S/o. Late Abdul Aziz
Relation : Father
Occupation : Service

Address:
a) Present : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 

b) Permanent : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214



2. Signature : ..............................

Full name : Mrs. Rokeya Begum 
W/o. Mr. Md. Abdur Rab 
Relation : Mother 
Occupation : House wife 

Address:
a) Present : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 

b) Permanent : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214

EMPLOYEE:

Signature : ..............................

Full Name : Mr. Md. Ziaur Rahman
Address: 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214

Address: 
a) Present : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 

b) Permanent : 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214

             
WITNESSES: 

01. Signature : ..............................

Name : Md. Rezaul Karim
Occupation : Service 
Address: 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 




02. Signature : ..............................

Name : Mrs. Taslima Akter
Occupation : House wife
Address: 58/12, North Mugdapara, P.O. Basabo, P.S. Shabujbag, Dhaka-1214 

             

   

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