unsecured bond

Found in Anh - Anh (Wordnet)

Definition Noun A type of bond issued without any specific collateral or asset pledged as security. It represents a debt obligation where the issuer's promise to repay is based solely on its general creditworthiness and trust, rather than a claim on specific property. Usage An unsecured bond is a financial instrument. It is contrasted with a secured bond, which is backed by collateral. * The co...