Some bonds are enforceable in law and some are not. It depends what you are being bonded for, and for how much amd how long and stuff like that. The IR is one that tends to fall into the category of being "legal", but it depends how far they take the paybacks. If they are too huge, then from similar cases in other arenas, they are held to be not binding if you stick them in fornt of a judge. Don't know if FL is listening, or it falls in his area of expertise.
I had not heard of the "take a loan out" routine. That sounds sneakily effective. I do believe, there are some initial training schemes for plank guys that set you up with a loan until you virtually retire, but I think you are meant to pay that back from your own salary anyway