The concept of “pacta sunt servanda”, a Latin phrase meaning “agreements must be kept”, is a sacrosanct principle of contract law. It is not supposed to be easy to escape contractual liability, and proving that events were unforeseeable, for example, is difficult.
An employment bond is a legal agreement between an employer and an employee which confirms that the employee shall work for an agreed period upon joining the business. Wherein, the employee pledges to pay a certain amount to the employer if he/she decides to leave the organization before that agreed period.