Agreement & Undertaking

I, the Undersigned do hereby, undertake and guarantee in consideration of your agreeing and grant reimbursement of fees of my course _____________ to pursue a course of _______________ for a period of _______ years from ___________ to ___________ at _________________ (name of the institution), as per requirements of Training and Development Department’s Circular No. TDD (HSU) Policy -_________ dated: 07-08-2007. I agree that:

I undertake to complete the course mentioned above as well as in the Agreement dated _______ executed between me and the Bank to comply with all the terms and conditions thereof.
After completion of the Course I will serve the Bank for at least three consecutive years, failing which I will be liable to pay to the Bank the total amount of Rs. ________/- incurred by the Bank in respect of the said Course.

Name: ______________________

Index No: ___________________ PIN: _____________________

Designation: _________________

Department: _________________

Dated: __________________

Witness 1: ________________ Witness 2: _________________

Name: __________________ Name: _____________________

Address: ________________ Address: ___________________

CNIC: __________________ CNIC: _____________________

EXECUTIVE PROGRAM

SURETY BOND FOR REIMBURSEMENT OF ADMISSION/TUITION AND OTHER INCIDENTAL EXPENSES ECT TO _____________________

INDEX NO. ____________, PIN ___________, KARACHI

In consideration of your agreeing to reimbursement of tuition fee to ___________ and grant reimbursement of fees to pursue the course of _____________ for a period of _______ years from ___________ to ___________ at _________________ (name of the institution), as per requirements of Training and Development Department’s Circular No. TDD (HSU) Policy -.

This Deed executed on the ________________ day of ________________ of the year by (1) __________________ s/o ________________, Index No. __________, PIN _______ (2) __________________ s/o ________________, Index No. ___________, PIN ______ hereinafter referred to as “The Sureties” (which term includes their legal heirs, successors, executors, administrators and assigns) in favor of the State Bank of Pakistan hereinafter referred to as “The Bank”.

WHEREAS it is do here by stated that the Bank allowed Mr/Ms __________ to reimburse Admission Tuition Fees and other incidental expenses incurred by the Bank i.e. the total amount of Rs. ________/-in respect of the said Course on the terms and conditions in the aforementioned Circular and specially on the condition that he/she will not retire, leave or discontinue his/her services before serving the Bank for a period of three years after completing the course at the above mentioned institution. We the above mentioned sureties bind ourselves jointly and severally to be liable to the Bank for repayment of sums equal to the maximum of Rs. ______/- established liability of the above named employee in respect of all sums that may become payable by him/her in case of any of the violation of terms and conditions thereof.

All rights, powers and remedies of the SBP hereunder are cumulative. No delay, failure or discontinuance of SBP in exercising any right, power or remedy here under shall affect or operate as a waiver of such right, power or remedy; nor shall any single or partial exercise of any such right, power or remedy preclude, waive or otherwise affect any other or further exercise there of or the exercise of any other right, power or remedy.

IN WITNESS WHEREOF the before said sureties have set their respective hands hereunto on the date first above written in presence of witnesses. Their names, signatures and addresses here in after appearing.

WITNESSES: SURETIES:

________________________ 1. _____________________

________________________ _____________________

_________________________ _____________________

__________________________ 2. ______________________

___________________________ ______________________

_____________________________ ______________________