Information
> Financial Terms > This page
Bond of Indemnity
Source: Encyclopedia
of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order
it here)
A
written instrument in which the signer, the bondsman, guarantees to protect
another party against loss. It
is usually used in securing a corporation against loss in the case of
presentment in the future of a security lost by the owner and reissued
by it. It is also used to
protect the drawee bank when the drawer issues a stop-payment order against
a certified check.
Back to Information
|
