bonds
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bonds
Hi all,
Does Qantas Airways require a “bond” for new hire pilots? If so what does this really mean, does one need to come up with some cash to be held by them? I’ve heard people talking about it but I must admit I’m not really sure what it’s all about.
Anybody like to clear it up for me?
scootoo
does anyone know how much it would be too?
Does Qantas Airways require a “bond” for new hire pilots? If so what does this really mean, does one need to come up with some cash to be held by them? I’ve heard people talking about it but I must admit I’m not really sure what it’s all about.
Anybody like to clear it up for me?
scootoo
does anyone know how much it would be too?
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does anyone know how much the bond is these days?
what if qantas lays off or your fired - are you still up for paying out??!
(i wonder if doctors are bonded to hospitals?)
what if qantas lays off or your fired - are you still up for paying out??!
(i wonder if doctors are bonded to hospitals?)
Join Date: Apr 2007
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Broadly speaking most bonds are around 15-30k, you dont have to pay them back if your made redundant or get fired. The company doesnt hold the money rather you pay it to them if you break the conditions of the bond.
Dont know about doctors but there are plently of people out there who have bonds in various forms..... ie sportsmen, building contractors etc.
Dont know about doctors but there are plently of people out there who have bonds in various forms..... ie sportsmen, building contractors etc.
"(i wonder if doctors are bonded to hospitals?)"
Yes, some are! Not to hospitals but to health service providers.
My understanding is that bonds rarely stand up in court.
Dr
Yes, some are! Not to hospitals but to health service providers.
My understanding is that bonds rarely stand up in court.
Dr
Join Date: Sep 2001
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Doc,
Bonds are most certainly enforceable if they are put together correctly. The test is that the bond must not give the appearance of slavery. In other words is there a reasonable prospect that a person can leave at any time and not be bankrupted by the bond left owing.
30K over two years would be reasonable depending on the salary being paid, the employment prospects of the pilot and the cost of the endorsement upon the employer.
Of course the employer has to take legal action to enforce the bond and if the bond is only 10K it may not be worth their while because of the cost of using a lawyer to get it back.
Bonds are most certainly enforceable if they are put together correctly. The test is that the bond must not give the appearance of slavery. In other words is there a reasonable prospect that a person can leave at any time and not be bankrupted by the bond left owing.
30K over two years would be reasonable depending on the salary being paid, the employment prospects of the pilot and the cost of the endorsement upon the employer.
Of course the employer has to take legal action to enforce the bond and if the bond is only 10K it may not be worth their while because of the cost of using a lawyer to get it back.
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Originally Posted by notmyC150v2
if the bond is only 10K it may not be worth their while because of the cost of using a lawyer to get it back.
Two things to think over:
1. One $10k bond might cost $30k or more to recover through the courts.
But if your organisation has a problem (or thinks it has a problem) with another 20 or 30 similarly bonded pilots actively seeking work elsewhere out of a fleet of 70-odd pilots, then the numbers stack up the other way.
2. The courts are full of litigants and respondents that took action because they were p!ssed off, regardless of how it might work out financially. Often the total costs of securing 'justice' come as a nasty surprise.
Don't agree to a bond on the slim hope that 'they wouldn't enforce it.'
If it is in your contract, they can, and often they will.
Surveillance Australia (NJS/Cobham group) chased a pilot named McLennan through magistrates court all the way to federal court for a similar amount.
