GUARANTEE BOND- GURUKULAM

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(THIS IS ONLY A MODEL BOND TO BE SUBMITTED TO GURUKULAM, FOR UPDATED ONE IF ANY, CONTACT  YOUR GURUKULAM)

GUARANTEE BOND

            This deed of guarantee is made at Peddapalli on this 7th day of August 2019 between Sri Devarakonda Rajesh S/o- Surya Prakash aged about 39 years residing at 4-3-213/6c, Bhoomnagar, Peddapalli here in after referred to as the guarantor of the one part and the TTWREI society (gurukulam) Hyderabad vide Regt.No. 453 of 2014, registered under T S Public Societies Registration Act, 1350 Fasli  having it's head office at Hyderabad, hear in after referred to as the society of the second part

WHEREAS

 1. The society has appointed Sri. Keshava Reddy Cheraku S/o- Lakshma Reddy aged about 38 years residing at 5-90 Rachapalli, Ellandakunta mandal, Karimnagar  district where by the society has engaged the services of Sri Keshava Reddy Cheraku as lecturer on the conditions mentioned in the appointment order RC No. A2/Admin/ 3124/RDC/2019-1 dated 05.08.2019 executed between the society and the said Sri. Keshava Reddy Cheraku.

2. One of the said condition is that  Sri Keshava Reddy Cheraku shall execute a bond for an amount of Rs.50000/- monitory value along with surety of similar financial status binding him to serve the society for a minimum period of 3 years.This bond shall come into force in the event of the lecturer namely Sri Keshava Reddy Cheraku abstrains from service of the society without the prior permission from the competent authorities ceases from service within 3 years.

3. At the request of said Sri Keshava Reddy Cheraku, the guarantor has agreed  to guarantee the conditions of the appointment orders in the following manner and the society accepted the same

NOW THIS DEED WITNESSETH that pursuant to the said conditions and in the premises of the foresaid and the guarantor both hereby guarantee to and confirm with the society that the event of the said Sri. Keshava Reddy Cheraku not serve the society for a minimum period of 3 years and observing the conditions of the said appointment order RC No. A2/Admin/3124/RDC/2019-1 dated 05.08.2019 between the society and the said Sri Keshava Reddy Cheraku and the latter committing breach of any conditions, there off then and  in that event without prejudice to the other rights of the society under the said terms and conditions to take any action, the guarantor shall pay the society on demand made by the society in writing such of Rs.50,000. If individual wants to leaves from one society to another society after getting fresh appointment by direct recruitment then individual shall pay the Rs.25000 Instead of Rs.50000 as bond amount. Further, if the individual wants to leave all the residential societies and he should pay the the bond of amount of Rs.50000 AND IT IS FURTHER AGREED and declared that the guarantor will be continuing guarantee for any act of omission on the part of the said Sri Keshava Reddy Cheraku or negligence, breach of Faith, or breach of conditions so long as the said appointment order RC No. A2/Admin/3124/RDC/2019-1 dated 05.08.2019  between the society and the said Sri Keshava Reddy Cheraku  is in force

 IN WITNESS WHERE the guarantee has put his hand the day and year first herein above written. Signed and delivered by the within named guarantor Sri Devarakonda Rajesh in the presence of

                                                                             signature of the guarantor

 WITNESS and address

 1.

2.

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