Bond guaranteed by two or more obligors (guarantors), one of them being the issuer. The assets of all the guarantors can be called upon to pay the bond holders if a default occurs. It is not the same as joint-and-several bond.
Related information about joint bond:
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A bond that is guaranteed by a party other than the issuer. A joint bond is an issue which is essentially a liability to multiple parties. These parties may be both ...
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Definition of joint bond: Bond guaranteed by two or more obligors (guarantors), one of them being the issuer. The assets of all the guarantors can be called upon ...
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We explain the definition of Joint Bond, provide a clear example of how it works and explain why it's an important concept in business, finance & investing.
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What is Joint Bond? Find out right now with a helpful definition and links related to Joint Bond.
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- Joint Bond Law & Legal Definition
Joint bond is a bond signed or guaranteed by two or more obligors. It is a bond on which the obligors are only liable in combination, that is, jointly, and not ...