training bonds

loopy · Post by **loopy** » Sat Feb 21, 2004 6:10 pm

C'mon, where are the meaty, intelligent arguements for and against? I know people are hitting on the poll. There are a lot of people here who normally aren't afraid to make their statement on an issue.

Pratt · Post by **Pratt** » Sat Feb 21, 2004 7:17 pm

The only time I was ever asked to sign a bond or training contract was with my first multi IFR employer.

I had been with them for 3 years flying a DHC-2 out east on the rock, good job, year round, good pay, made about $32K on the beaver in the last year and that was in 1985. Got my multi IFR and they checked me out on the Islander, Navajo and awhile later the B-99, I had been flying the B-99 for a couple of months already when a couple of new hires got trained on different airplanes and shortly after left for supposedly greener pastures with their new PPC's.

After they left the boss came up to me and asked if I would sign an agreement for the planes I was already PPC'd on, all I could do was laugh at him for asking me after the fact. I didn't sign anything.

I ended up staying there for another couple of years so I don't think there was any hard feelings when I left.

Needless to say that was the end of his goodwill training for new PPc's after the other couple of guys pulled the plug on him. Everyone after that was required to sign an agreement of some kind. That was the first I had heard of training contracts, so it certainly isn't anything new these days.

Thinking back, I would have signed an agreement if I had been asked before being trained. And in the future, if I changed companies, I would probably be receptive to signing an agreement for training with a new employer, but only if it was an agreement to stay with the employer for a specific period of time.

I would not be interested in doing the Jets-Go type of deal, whether it was an out and out paying for the check out or any other type of deal that required a cash outlay of any kind.

For the folks that do go that route, I don't have anything bad to say against them, fill your boots, it is a hard industry to get ahead in and you have to use all of resources that you have.(maybe literally, but you shoudn't) But that isn't something that I would do.

Cheers

Right Seat Captain · Post by **Right Seat Captain** » Sat Feb 21, 2004 8:37 pm

I asked before, and didn't get much of an answer, so I'll state my question again.

For those of you who have gotten a training bond, what kind of protection did you get if the compnay either let you go, or worse, went under?

Kosiw · Post by **Kosiw** » Sat Feb 21, 2004 9:19 pm

I have a buddy who recently got hired by $$Jetsgo$$, he was told in the interview, that even though the company would pay back the 30k over 2 years, if Jetsgo went under (for whatever reason), then he would be on the hook for the balance owed to him, in other words, Jetsgo is under no obligation to get his money back to him if they go "tits up"........sounds scary to me!

shitdisturber · Post by **shitdisturber** » Sat Feb 21, 2004 10:00 pm

That's because Jetsgo isn't using a training bond. You are expected to get your own loan and they pay it off; so if you get fired or they go under, you are indeed on the hook for the whole amount. In a training bond, it's the company's money and you work it off; so if they fire you or go under, you're free and clear.

loopy · Post by **loopy** » Mon Feb 23, 2004 7:39 am

So if it's only a training bond when the company arranges the financing and guarantees the payments (as long as you stick around for the payment period), what would you call "this" practice?

RB211 · Post by **RB211** » Mon Feb 23, 2004 9:50 am

loopy wrote:So if it's only a training bond when the company arranges the financing and guarantees the payments (as long as you stick around for the payment period), what would you call "this" practice?

An unsecured loan?!!!

loopy · Post by **loopy** » Mon Feb 23, 2004 11:15 am

Here's part of a reply from off the PPRUNE site, Canada forum, from a guy with the handle of "ehwatezedoing":

"Also, "endorsment money/training bond" is held on a fond/trust/whatever in such a manner that even if the company go bankrupt this will be pay back (with interest).
Maybe a way of keeping people on board the day Mr Leblanc will sell Jetsgo"

What way is Jetsgo doing it? Bond or just paying you to cover your own personal loan?

pimper · Post by **pimper** » Mon Feb 23, 2004 8:26 pm

You give them the money, JetsGo pays it back with interest. Could be a loan, line of credit, gift from santa clause..it does not matter.

loopy · Post by **loopy** » Mon Feb 23, 2004 8:27 pm

I spoke to a friend inside and it seems Jetsgo is just paying you your loan payments with interest over 2 years. No "trust". If you get your money back after the company possibly goes t*** up, it is purely out of the kindness of Mr. LeBlanc's heart.

oldtimer · Post by **oldtimer** » Mon Feb 23, 2004 9:24 pm

Ya just never know. I worked for a guy who had a reputation as being a hardass but. One pilot bonded for Lear training, flew the airplane twice and then lost his medical. The "hardass' boss paid out the loan that afternoon. Kept the guy on the payroll till medical insurance kicked in. Unfortunatly. the guy died 2 months later. You just never know.

shitdisturber · Post by **shitdisturber** » Wed Feb 25, 2004 6:02 pm

Now that both sucks and blows for the guy! Really classy of your boss to do that for him though!

Johnny#5 · Post by **Johnny#5** » Fri Dec 06, 2013 10:51 pm

Yeah! What he said!!!

PositiveRate27 · Post by **PositiveRate27** » Sat Dec 07, 2013 1:35 am

Ho-leeee blast from the nearly 10 year past!

human garbage · Post by **human garbage** » Sat Dec 07, 2013 12:30 pm

^ Indeed. That could take the 'Necro-post of 2013' award on Avcanada easily...

Beefitarian · Post by **Beefitarian** » Sat Dec 07, 2013 12:49 pm

Wow. Humans are pretty fragile.

What did he have that he went from holding a cat 1 to passing away so quickly?

Instructor_Mike · Post by **Instructor_Mike** » Mon Dec 09, 2013 10:33 pm

At my last medical the CAME told me that he did a medical for a guy and he was dead a week later. I can't remember if it was a heart attack or what but it was natural/medical related.

It was probably just a cat 3 "do you have a pulse" check, but still

training bonds

Would you take a job with a training bond?

training bonds.

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