Bonded definitions
| Word backwards | dednob |
|---|---|
| Part of speech | Bonded can be used as both an adjective and a verb. |
| Syllabic division | bond-ed |
| Plural | The plural of the word "bonded" is bondeds. |
| Total letters | 6 |
| Vogais (2) | o,e |
| Consonants (3) | b,n,d |
When it comes to financial terms, being "bonded" is a concept that is often misunderstood. In simple terms, being bonded means that there is a guarantee that a specific task will be completed as promised. This guarantee usually comes in the form of a surety bond provided by a third-party company.
What is Bonded?
A bond is essentially a contract between three parties: the person or business requiring the bond (the obligee), the person or business performing the task (the principal), and the third-party surety company providing the bond. This contract ensures that if the principal fails to fulfill their obligations, the surety company will step in and provide compensation to the obligee.
How does bonding work?
When a person or business is "bonded," it means that they have obtained a surety bond from a surety company. This bond acts as a form of protection for the obligee in case the principal does not fulfill their duties. If the obligee has a valid claim, they can file a claim against the bond to receive compensation.
Types of Bonds:
There are various types of bonds, each serving a different purpose. Some common types of bonds include contract bonds, license and permit bonds, court bonds, and fidelity bonds. Each type of bond is tailored to specific industries and situations to ensure that all parties are protected in case of non-performance.
Overall, being bonded provides a sense of security for all parties involved in a transaction. It ensures that there is a financial guarantee in place in case things do not go as planned. This concept is crucial in various industries where there is a risk of non-performance or financial loss.
Bonded Examples
- A bonded pair of rabbits displayed an undeniable affection for each other.
- The contractor bonded the bricks together using a strong adhesive.
- The father and son bonded over a shared love of baseball.
- The friends felt bonded by their shared experiences during a difficult time.
- She bonded with her coworkers during a team-building retreat.
- The siblings' bond grew stronger as they faced challenges together.
- The investment was secured by a bonded guarantee from the bank.
- The dog became bonded to its owner after years of companionship.
- The metal pieces were tightly bonded together to create a seamless connection.
- The artist bonded the colors on the canvas to create a harmonious composition.