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 to pay the bond holders if a default occurs. It is not the same as joint-and-several bond.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
joint and survivor annuity joint cost