Truckflyer,
You do not sign the contract until you have completed your 500hrs, then you will have a choice to sign it or you can still work for them but you will not get paid!! But because so many pilots think they are smart by not signing and are still working for free lion air will get rid of you simple as that!!
Now back to the contract you are NOT signing a bond you are signing to that if you leave lion air or break the contract you will pay $50k end of!!
BTW I don't know why you are bringing EU or UK laws into it. they cant protect you.
I still think going to Jakarta is the best option. I know a lot of pilots won't like the idea of 4 Years but that's their choice. I still think its wrong for pilots to go there for just for 1000 hrs or so and then break the contract because its only going to more tough for the next batch and so on.