Cartoon Guy Holding Stack Of Books

Bulk Transfer

ABC Blocks

A mortgage contract in which a ship and/or its freight is pledged as security for a loan for equipment, repair, or use of a vessel. the contract is generally called a “bottomry bond.” if the loan is not paid back, the lender can sell the ship and/or its freight.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.