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of <h1>Bond Basics: Formal Promise to Repay Money with Agreed Interest Over Specific Time Period Under Defined Legal Terms</h1> A bond is a legal document evidencing a debt obligation, where an entity promises to repay borrowed money with specified interest over a defined period. Multiple legal dictionaries define it as a binding engagement or certificate of debt, typically issued by governments or companies. The bond represents a creditor-debtor relationship, often secured by a mortgage, with clear terms of repayment and interest.
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