What is another word for BOTTOMRY BOND?
Pronunciation: [bˈɒtɒmɹi bˈɒnd] (IPA) 
A bottomry bond, also known as a respondentia bond, is a type of maritime contract where a ship owner borrows money to finance the voyage. The security for the loan is the ship and its cargo. If the ship and cargo are lost, the lender loses the money they lent.
There are several synonyms for bottomry bonds, including: marine bonds, maritime bonds, ship bonds, sea loans, marine mortgages, ship mortgages, and sea bonds. All of these terms refer to the same type of contract.
Bottomry bonds have been used since ancient times to finance maritime commerce. They were particularly popular in the early days of overseas trade when ships could take months or even years to complete their voyage. The risk was high, but so were the potential rewards.
