A bearer bond is a debt security issued by a business entity, such as a corporation, or by a government. It differs from the more common types of investment securities in that it is unregistered – no records are kept of the owner, or the transactions involving ownership. Whoever physically holds the paper on which the bond is issued owns the instrument. This is useful for investors who wish to retain anonymity. Recovery of the value of a bearer bond in the event of its loss, theft, or destruction is usually impossible. Some relief is possible in the case of United States public debt.
Read more about Bearer Bond: History, National Policy and Practice
Famous quotes containing the words bearer and/or bond:
“Just as a person who is always asserting that he is too good-natured is the very one from whom to expect, on some occasion, the coldest and most unconcerned cruelty, so when any group sees itself as the bearer of civilization this very belief will betray it into behaving barbarously at the first opportunity.”
—Simone Weil (1910–1943)
“The bond between a man and his profession is similar to that which ties him to his country; it is just as complex, often ambivalent, and in general it is understood completely only when it is broken: by exile or emigration in the case of one’s country, by retirement in the case of a trade or profession.”
—Primo Levi (1919–1987)