Bond by an Employee for not Engaging himself with a competitor

Legal Resource Category(s)

Bonds


	Sr.No	Form Name

	1.	Administration Bond (SECTION 291, INDIAN SUCCESSION ACT)'

	2.	Administration Bond (Section 291, Indian Succession Act)'

	3.	Bond and Bail Bond under Criminal Procedure Code, 1973 after Arrest Under a Warrant'

	4.	Bond by an Employee for not Engaging himself with a Competitor'

	5.	Bond by an Employee for not Engaging himself with a competitor'

	6.	Bond by Debtor and his Surety'

	7.	Bond by Debtor and Surety for Existing Liability'

	8.	Bond by One Person to Two Persons Providing Payment by Installments'

	9.	Bond given to an Employer for Faithful Discharge of Duties by the Employee'

	10.	Bond Given to an Employer for the Faithful Discharge of Duties by an Employee'

	11.	Bond to Keep the Peace'

	12.	Bond to Secure the Performance of a Contract'

	13.	Equal Installment Bond'

	14.	Installment Bond'

	15.	Installment Bond in Deed form'

	16.	Loan Bond with Sureties and Lower Rate of Interest in Case Punctuality in Payment'

	17.	Loan Bond with Surety and Hypothecation of Property'

	18.	Security Bond'

	19.	Security Bond by a Surety'

	20.	Security Bond by Debtor (Section 21 of the Provincial Insolvency Act)'

	21.	Security Bond by Receiver'

	22.	Security Bond for Costs of Appeal Where in Property is Mortgaged'

	23.	Security Bond for Grant of Succession Certificate (Section 375, Indian Succession Act)'

	24.	Security Bond for Removal of Attachment'

	25.	Security Bond in Injunction Suit Requiring Defendant not to do or Repeat the Wrongful Act Complained of'

	26.	Security Bond Mortgaging Property given or Order Being Made to Stay Execution of Decree'

	27.	Security Bond on behalf of Defendant for the Production of Property'

	28.	Security Bond to be given during the Pendency of Appeal Where in Property is Mortgated'

	29.	Simple Bond'

	30.	Simple Bond for Money Borrowed'

	31.	Simple Form for Money Due'

	32.	Simple Money Bond'

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Bond by an Employee for not Engaging himself with a competitor

By this Bond Mr. A residing at ... binds himself to pay to Mr. B the sum of Rs... as liquidated damages.

Whereas A is a qualified chemist employed by B in his factory manufacturing some pharmaceutical products or medicines viz. ………........ and in the course of employment Mr. B may come to know the secret formulae adopted by B in the manufacture of such products.

And Where as a term of employment A has promised to B not to misuse his position by disclosing to any person the knowledge acquired by him in the manufacture of the said products and has agreed to execute this Bond.

And Where as however, in the event of A misusing his position as herein stated, he has. at the request of B agreed and hereby agrees to make good the loss by paying him the said B a sum of Rs ...... as compensation.

Now the condition of this bond is that if during the course of employment of Mr. A with Mr. B the said A will work faithfully and honestly and shall not disclose to any person the knowledge he may get regarding the manufacture of the said products and the formulae or manufacturing process thereof and shall not. after he ceases to be the employee of Mr. A due to his resignation or dismissal or removal or for any reason whatsoever, carry on any business similar to the business of manufacturing the said products or medicines or work with any other manufacturer carrying on similar business, either as an employee or on ad hoe basis or partially or otherwise directly or Indirectly within the city of... and for a period of three years from the time he ceases to be in the service of the said B then this Bond will become void and of no effect but otherwise it will remain in full force and effect.

In Witness Whereof the said Mr. A has put his hand this day ...

Signed and delivered by the

withinnamed Mr.………….

WITNESSES;