Bond

Definition 1. A sum of money paid into court as an assurance of the performance of some requirement or as security for payment on a claim. This sum may be used to allow for the removal of a claim for a sum of money paid into court as an assurance of the performance of some requirement or as security for payment on a claim. May be used to allow for the removal of a claim for lien from a property while the court action over the lien continues.

Definition 2. An interest-bearing instrument. Lien from a property while the court action over the lien continues.

Part of the Commercial Property glossary — plain-English definitions of the terms you meet when leasing, buying or selling commercial space in South Africa. See also our how-to guides.