Good topic this.
Yes it is true about the bond. However the enforceability of this element of the employment contract is questionable and I know of at least one instance where a 'bonded' pilot left for another airline immediately after endorsement and he paid AUD $5000 instead of the bonded amount.
In this case the bond was $50,000 (he was an ex-cadet).
In the early '90's QF tried to enforce the bond clause against a Level 1 cadet who was failed under very dubious circumstances in Adl. The case went to court and QF lost.
So the moral of the story is don't sweat the bond.
rgs
FS