Originally Posted by readufive
Fogrunner....many thanks for the input. So...as I understand it...you bring
56k sgd yourself..and thats it. IF you violate the contract...you pay an amount of 142k sgd......ok....I think its sinking in now....
I don't work at Singapore, just info I have managed to glean from this website.
Originally Posted by millerscourt
To avoid any confusion the Bank Guarantee forms part of the total Bond. This guarantee has either to be in cash when you arrive or as a Bank Guarantee by a branch in Singapore. The Bond is the Grand Total you are signed up to repaying SQ should you leave earlier than the 5 years of being on the line. It is Pro- Rata if you leave earlier. After 5 years on the line the Bank Guarantee is cancelled and you get your money back.
If you do a detailed search there is a guy called Gladiator. He skipped out on his bond. Singapore chased him down to the US ( I think he is at Alaska now) and sued him in US court. He gives a detailed account of his dealings with SIA from his point of view.
People can debate all they want about the bond/guarantee. This is the way SIA does it. To me, if you sign an agreement it is your word. I guess I am an old fashioned guy. You buy a house you sign the paperwork. If you don't pay the bank note they take the house. What's the difference. You complete the contract you get the money back.