North Sea "bonding" question
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North Sea "bonding" question
If hired by chc/bristows and they pay for the JAA IR - how does the "bonding" work? do they 'lend' you the money and then taken money from your wages? what happens if you leave after 6 months? do you sign an agreement? how long is a typical "bond"?
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CHC will bond you for 5 years for an IR and 2 years per type rating. They get billed direct for it. If you leave before the 5 years etc, then you pay back £10k per year. ie, leave after 3 years, owe £20k. They don't take anything out of wages.
Just to add for the post below, it works out at about £10k per year so whatever the conversion costs, the time of bond will be pro rata. ie, cost of 20k to convert then 2 year bond (approx) Hope that helps.
Just to add for the post below, it works out at about £10k per year so whatever the conversion costs, the time of bond will be pro rata. ie, cost of 20k to convert then 2 year bond (approx) Hope that helps.
Last edited by kissmysquirrel; 30th Nov 2006 at 08:49.
