What is the difference between a contract job and a bonded job.

For example a bonded job if you resign have to pay penalty, is it the same with the contract job? Can you resign while under contract?

Thank you

Depending on the contract terms, if contract stated about the bond clauses then you will be contracted and bonded at the same time.

Contract job can also be bond-free, where the usual notice period in the contract will apply.

This post has been edited by abc2005: May 17 2024, 04:38 PM

Bonded means you have to work until the term expires. Resign early and lose benefits/ pay penalty or both.

Meanwhile contract means the term is subject to renewal after X years or months. For instance, company offers a 2-years contract, which you could always leave anytime, but after 2 years, the company will review and see if they would rather extend or not.

My understanding is that a bonded job usually means that the company fronted up money to sponsor the worker/employee for higher studies or specialised training.

I was bonded to MOH after my overseas training programme ended for 3 years, and if I broke the bond, not only would I lose my bonuses etc, I had to pay back the amount that MOH spent on me.

A contract means you have no financial obligation to the company, but you may still end up losing your bonus if you break it.

At least that’s my understanding