bond 1 n
1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure to perform or abstain will obligate the person or often a surety to pay a sum of money or will result in the forfeiture of money put up by the person or surety; also: the money put up
◇ The purpose of a bond is to provide an incentive for the fulfillment of an obligation. It also provides reassurance that the obligation will be fulfilled and that compensation is available if it is not fulfilled. In most cases a surety is involved, and the bond makes the surety responsible for the consequences of the obligated person's behavior. Some bonds, such as fidelity bonds, function as insurance agreements, in which the surety promises to pay for financial loss caused by the bad behavior of an obligated person or by some contingency over which the person may have no control.
appeal bond: a cost bond required by a rule of procedure (as Federal Rule of Appellate Procedure 7) to be given by an appellant in order to cover the costs of an appeal
appearance bond: an often unsecured bond given by a defendant in a criminal trial to guarantee the defendant's appearance in court as scheduled
attachment bond
1: a bond given by a plaintiff seeking to attach the defendant's property that ensures payment to the defendant of any damages suffered because of the attachment in the event the plaintiff loses the suit
2: a bond given by a defendant in order to have an attachment released that ensures payment of a judgment awarded to the plaintiff
bail bond: a bond given by a criminal defendant or by his or her surety to ensure compliance with the terms of bail and esp. with the requirement that the defendant appear in court as scheduled
bid bond: a surety bond often required of contractors bidding on construction work to ensure that the successful bidder will accept the job and will also provide a performance bond
blanket bond: a fidelity bond covering all persons or all of a category of persons employed (as by a bank) or holding office (as of a trustee in bankruptcy)
com·ple·tion bond: performance bond in this entry
contract bond: a bond given to protect a person or business entity against loss caused by a breach of a contract (as for building, construction, or supply)
cost bond: a bond given by a plaintiff to ensure payment of court costs
depository bond: a bond given by a bank often for deposits from state or municipal governments that covers the amount of the deposit in the event of the bank's insolvency
fidelity bond: a bond or other form of contract to cover an employer against financial loss due to the dishonesty of an employee
injunction bond: a bond required to be given by the applicant for an injunction to cover costs and damages incurred by a party found to have been wrongfully enjoined
judicial bond: a bond (as an appeal bond or bail bond) required to be given in a court proceeding
license bond: a surety bond required by law or as a condition to the conduct of a specific business or profession – called also permit bond;
pay·ment bond: a surety bond that covers payment to certain parties (as suppliers) in the event that a contractor breaches a construction contract
peace bond: a bond required to be given by a defendant to ensure good behavior and discourage breaches of the peace
penal bond: a bond that ensures payment of a stipulated sum in the event of a party's nonperformance and that is often required for government contracts
performance bond: a surety bond that ensures a property owner (as a developer or municipality) of the completion of a construction contract or payment of actual damages to the extent of the bond in the event that the contractor fails to complete it – called also completion bond;
permit bond: license bond in this entry
personal bond: a criminal defendant's unsecured promise to appear in court as scheduled after release from custody
replevin bond: a bond given by a plaintiff in a replevin action to cover losses to the defendant or court officer seizing the property in the defendant's possession and transferring it to the plaintiff in the event that the plaintiff loses the case
supersedeas bond: a bond given by an appellant in order to obtain a stay of the judgment awarded at trial and for the purpose of ensuring that if the appellant loses the appeal the appellee will be paid the judgment plus any damages incident to the delay caused by the appeal
surety bond: a bond in which a surety agrees to assume responsibility for the performance of an obligation of another in the event of a default
b: one who acts as a surety
2: an interest-bearing document giving evidence of a debt issued by a government body or corporation that is sometimes secured by a lien on property and is often designed to take care of a particular financial need see also collateralized mortgage obligation
accrual bond: a bond that is usu. the last tranche of a collateralized mortgage obligation and from which no payments of principal or interest are made until the earlier tranches are paid in full – called also Z-bond;
adjustment bond: a bond that is issued in settlement of a prior obligation as part of a business reorganization and on which interest payments are usu. contingent upon earnings
ba·by bond: a bond having a face value of usu. $500 or less
bearer bond: a fully negotiable bond payable to its bearer compare registered bond in this entry
book–entry bond: a bond whose ownership is recorded by computer but for which no certificate is issued
convertible bond: a bond that may be exchanged for another type of security (as common stock) at prearranged terms
coupon bond: a bearer bond that has coupons that must be cut off and presented for payment of interest
debenture bond: a bond backed by the general credit of the issuer rather than by a specific lien on particular assets: debenture
discount bond: a bond with a market value lower than its face value
flower bond: a Treasury bond that may be redeemed at face value before maturity if used in settling federal estate taxes
guaranteed bond: a bond on which payment of interest or principal or both is guaranteed by a corporation other than the issuer
income bond: a bond that pays interest at a rate based on the issuer's earnings
junk bond: a high-risk bond that offers a high yield and is often issued to finance the takeover of a company
mortgage bond: a bond secured by a mortgage on property compare debenture
municipal bond: a bond issued by a municipality to fund the expenses of running the government or of specific programs or projects
registered bond: a bond registered in the name of the holder on the books of the company and issued with the name of the holder written on the bond certificate compare bearer bond in this entry
revenue bond: a bond issued by a public agency authorized to build, acquire, or improve a revenue-producing property (as a toll road) and payable solely out of the revenue derived from such property
sav·ings bond: a nontransferable registered bond issued by the U.S. government in denominations of $50 to $10,000
se·ri·al bond: one of a series of bonds maturing periodically rather than on a single maturity date
Treasury bond: a long-term government bond issued by or under the authority of the U.S. Treasury compare treasury bill at bill; treasury note at note
ze·ro–coupon bond: a bond that is sold at a price significantly below face value, pays no annual interest, and is redeemable at full value at maturity compare strip
bond 2 vt
1: to convert into a debt secured by bonds
2: to provide a bond for
bond an employee

Merriam-Webster’s Dictionary of Law. . 1996.

I noun assurance, certificate of debt, certificate of indebtedness, chirograph urn, debenture, evidence of a debt, government paper, guarantee, guaranty, indenture, obligation, promise, promissory note, real security, security, surety, syngrapha, voucher, warrant, warranty associated concepts: back bond, bearer bond, bond discount, bond for costs, bond for deed, bond for title, bond holder, bond issue, bond of matrimony, bond premium, bonded indebtedness, bondsman, cash bond, construction bond, coupon bond, defense bond, delivery bond, fidelity bond, governmental bond, indemnity bond, interest-free bond, municipal bond, ne exeat, serial bond, state bond, supersedeas bond, tax-exempt bond foreign phrases:
- Eodem ligamine quo ligatum est dis solvitur. — A bond is released by the same formalities by which it was made binding
II (hold together) verb attach, blend, cement, coagulate, coalesce, cohere, combine, conglutemate, connect, consolidate, couple, fix, fuse, glue, interlock, join, merge, secure, stick, unite III (secure a debt) verb agree, assure, certify, confirm, contract, covenant, endorse, ensure, give security, guarantee, hypothecate, indenture, insure, pledge, post, promise, secure, stake, underwrite, warrant IV index adherence (adhesion), adherence (devotion), adhesion (loyalty), affiliation (connectedness), agreement (contract), association (connection), attachment (act of affixing), bail, chain (nexus), charge (lien), coalescence, coalition, connection (fastening), contact (association), contract, coverage (insurance), debenture, fetter, guaranty, handcuff, hostage, kinship, liaison, loyalty, marriage (intimate relationship), nexus, note (written promise to pay), pact, pawn, pledge (deposit), promise, propinquity (kinship), recognizance, relation (connection), relationship (connection), security (pledge), sodality, specialty (contract), stipulation, treaty

Burton's Legal Thesaurus. . 2006

Written evidence of a debt issued by a company or government in which the issuing body agrees to pay a fixed rate of interest during the period of the loan and to repay the principal at a specified date, called maturity.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

(1) A written agreement purchased from a bonding company that guarantees a person will properly carry out a specific act, such as managing funds, showing up in court, providing good title to a piece of real estate, or completing a construction project. If the person who purchased the bond fails at his or her task, the bonding company will pay the aggrieved party an amount up to the value of the bond. The bonding company often requires collateral (by placing a lien on the purchaser's real estate), and if it has to pay out on the bond, it will sell the collateral to cover its loss. (2) An interest-bearing document issued by a government or company as evidence of a debt. A bond provides predetermined payments at a set date to the bond holder. Bonds may be "registered" bonds, which provide payment to the bond holder whose name is recorded with the issuer and appears on the bond certificate, or "bearer" bonds, which provide payments to whomever holds the bond in-hand.
Category: Business, LLCs & Corporations
Category: Criminal Law
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.

The meaning of this term depends on the context in which it is used:
• In banking terms, a negotiable certificate evidencing a loan to the issuer by which the issuer promises to pay the holder its face value plus (usually) amounts of interest at future dates.
• In supply agreement terms, a security for payment provided by the buyer where the supplier anticipates that the buyer will be unable to pay.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

n. A written promise to pay or forfeit money or perform some act upon the occurrence or nonoccurrence of a specific act or the passage of a specified amount of time.
See also indenture.
@ appeal bond
A bond required of the appellant in a civil case to ensure that the appellee's costs will be paid if the appeal is dropped or unsuccessful.
=>> bond.
@ bail bond
A bond given to a court by a surety to secure the release of a criminal defendant from incarceration and to guarantee the defendant's future appearance in court, when required, during the criminal proceeding pending against him.
See also bailsman.
=>> bond.
@ bearer bond
A bond payable to whomever has possession of it. Whenever possession is transferred, so is also the ownership of the bond and the entitlement to the repayment of the debt and accompanying interest payments.
=>> bond.
@ blanket bond
A bond, frequently in the form of a fidelity bond, to protect against the wrongful action of one or more of a group or class of individuals. For example, a summer camp for children might provide a blanket bond against acts of child abuse by any of its camp counselors.
=>> bond.
@ completion bond
A bond to guarantee that a contractor will complete a project according to the terms of a contract. In the event of the contractor's default, the surety may complete the project or pay damages to the aggrieved party up to the amount of the limits of the bond. Also called performance bond.
=>> bond.
@ convertible bond
A bond that, under specified circumstances, can be exchanged for shares of stock in the corporation that issued the bond.
=>> bond.
@ fidelity bond
A bond to protect against the loss caused by the wrongful conduct of an employee.
=>> bond.
@ fiduciary bond
A bond required of a trustee, administrator, executor, guardian, conservator, or other fiduciary to protect against the loss caused by misconduct during the performance of the person's duties.
=>> bond.
@ general obligation bond
A government bond for which repayment is to be made from general tax revenues rather than from any specific fund or from the proceeds of any specific civic improvements or project. Also called bond for general purposes.
@ judicial bond
A bond to protect the adverse party in a civil case against the loss caused by any delay or inability to utilize property as a result of the lawsuit.
=>> bond.
@ junk bond
A corporate bond that pays high interest, because the company issuing it has a great risk of going out of business.
=>> bond.
@ municipal bond
@ state bond
@ municipal or state bond
municipal (or state) bond. A bond issued or guaranteed by a local or state government or governmental body.
+ municipal bond
n. A bond issued by a city or other municipal entity.
=>> bond.
@ payment bond
A bond to ensure that the employees, subcontractors, and suppliers of materials for a general contractor on a construction project will be paid by the bonding company, which acts as an insurer, if the contractor fails to pay them.
=>> bond.
@ peace bond
A bond required by a court of a person who has previously engaged in public disturbances or disorderly conduct or has threatened to do so again to ensure that, if she breaches the peace in the future, she will pay the court an amount up to the limits of the bond.
See also breach, conduct.
=>> bond.
@ penal bond
A bond to secure payment of a specified sum as a penalty if an obligation is not met. Often used to ensure that the terms of a contract are performed. Also called penalty bond.
=>> bond.
@ penalty bond
A bond to secure payment of a specified sum as a penalty if an obligation is not met. Often used to ensure that the terms of a contract are performed. Also called penal bond.
@ performance bond
A bond to guarantee that a contractor will complete a project according to the terms of a contract. In the event of the contractor's default, the surety may complete the project or pay damages to the aggrieved party up to the amount of the limits of the bond. Also called completion bond.
=>> bond.
@ personal bond
A bond issued by the party whose own potential action or default will trigger the payment or forfeiture of money up to the limits of the bond.
See also surety bond.
=>> bond.
@ revenue bond
A bond issued to raise funds for a specific project. The money used to repay the debt can derive only from the proceeds of that project.
=>> bond.
@ serial bond
One of several bonds issued at the same time, each of which has a different maturity date.
=>> bond.
@ series bonds
A group or groups of bonds issued as a result of the same bond indenture, but offered to the public at different times and with different maturity dates and interest rates.
=>> bond.
@ supersedeas bond
A bond required of the losing party in a civil action for the amount of the judgment. The bond is frequently a requirement for delaying the execution of the judgment while the losing party is appealing the case. Also called supersedeas.
=>> bond.
@ surety bond
1 A bond provided, usually for a fee, by one party, such as an insurance company, to protect against the potential actions or default of another party, by guaranteeing to perform certain acts or to pay an amount up to the limits of the bond if the other party acts or fails to act as prescribed in the bond. Also called suretyship bond.
See also surety, suretyship.
2 A long-term, interest-bearing instrument, in the form of a certificate, issued to the public by a corporate or governmental entity as a way to borrow money. The obligor promises to repay the money on or before a specific date and makes regular interest payments until then. The owner of the bond is not a stockholder and has no ownership interest in the entity, but is only a creditor, and the debt is often secured by a lien on the entity's property.
See also debenture.
@ suretyship bond
A bond provided, usually for a fee, by one party, such as an insurance company, to protect against the potential actions or default of another party, by guaranteeing to perform certain acts or to pay an amount up to the limits of the bond if the other party acts or fails to act as prescribed in the bond. Also called surety bond.
See also surety, suretyship.
=>> bond.
@ zero-coupon bond
A bond for which no interest is paid before its maturity. It is purchased at a discount price and redeemed at its maturity for its face value.
=>> bond.

Webster's New World Law Dictionary. . 2000.

A written agreement by which a person insures he will pay a certain sum of money if he does not perform certain duties property. see bail bond

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

   1) written evidence of debt issued by a company with the terms of payment spelled out. A bond differs from corporate shares of stock since bond payments are pre-determined and provide a final payoff date, while stock dividends vary depending on profitability and corporate decisions to distribute. There are two types of such bonds: "registered," in which the name of the owner is recorded by the company and "bearer," in which interest payments are made to whomever is holding the bond.
   2) written guaranty or pledge which is purchased from a bonding company (usually an insurance firm) or by an individual as security (called a "bondsman") to guarantee some form of performance, including showing up in court ("bail bond"), properly complete construction or other contract terms ("performance bond"), that the bonded party will not steal or mismanage funds, that a purchased article is the real thing, or that title is good. If there is a failure then the bonding company will make good up to the amount of the bond.

Law dictionary. . 2013.

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