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karuna arya (ship broker)     16 March 2014

Automatic renewal of bond

I have been working in private firm for last 15 years. after completion of 10 years my management shifted to me another deptt. Since it was commercial deptt thus i was asked to sign a bond for 4 years. which was completed today/15 march 2014. However as per a clause of bond i had to inform them to terminate the bond atleast 3 months prior expiry of the bond otherwise it would continue to govern both the parties for further period of four years. My mistake that i forgot to give them notice of termination before  3 months prior expiry of the existing bond. Now how can I restrict them so as it should not continue further. Presently i have no plans to quit job but still i do not feel comfortable hence do not want it to be continued further just because i did not notified them 3 months prior expiry of the said bond Please help me....... 



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 2 Replies

T. Kalaiselvan, Advocate (Advocate)     16 March 2014

Even now, if you have decided to not to stay more longer time with the company, you may plan accordingly and issue them with the the three months notice period for resignation and proceed as per the conditions as per the bond.

Biswanath Roy (Advocate)     17 March 2014

Once you agreed with the terms of the Bond  you shall have to obey it.  If due t o your own negligence you failed to discontinue its obligation it is your fault and you shall have to suffer for it.


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