indemnity bond

Definition of "indemnity bond"
  1. A contract promising to protect a carrier from financial loss due to a liability
How to use "indemnity bond" in a sentence
  1. The shipping company demanded an indemnity bond before they agreed to transport the cargo.
  2. The construction firm secured an indemnity bond to cover liabilities during the transportation of heavy machinery.
  3. Before they would move the goods, the moving company needed an indemnity bond.

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