The Ultimate Legal Dictionary
PracticePanther compiled a list of the legal terms and definitions every
attorney, paralegal, and law student needs to know when running a law firm.
Indemnity Bond
DEFINITION
A bond that is issued as a repayment to a holder who claims losses due to the behavior or actions of the issuer. For example, if someone’s car was damaged because of another person’s conduct, then the bond would be intended to reimburse the car owner and would be issued by the person who did the damage.
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