[ihaveaquery]

Hi,
I am processing H1B through a consultancy and they are asking me to sign a document which says

• 1 year contract
• 10,000USD money bond in case of breaching the 1 year contract.

I would like to know the legal validity of such a contract in United States. Please help me out. Thanks in advance.

Rgds!!

[ballengerb1]

It is legal so I would carefully think this through before signing.

[RichardBondMan]

Take the contract to an attorney, but my guess that if the contract calls for a bond, and I guess it does since you mentioned it, then don't sign the contract unless you can provide them with $10,000.00. Also I would find out exactly when my money will be returned after the contract ends, i.e. 7 das, 30 days, one year, etc. If you do not wish to post the money, you might consider asking if they would accept a corporate surety bond for $10,000.00. If they will accept the surety bond issued by an insurance/surety company, then your very difficult task will then be to locate a surety willing to issue such a bond. Depending on the terms of the contract and your fiancial wherewithall, it may be easy to find a surety willing or it may be very difficult. Have a copy of your contract ready to submit to the surety for their review.