In a marine law action against a ship, an Admiralty Bond takes the place of a ship as security and guarantees payment of whatever amount may be awarded to the claimant. Upon posting of the bond the ship is released.
Admiralty Bond
In a marine law action against a ship, an Admiralty Bond takes the place of a ship as security and guarantees payment of whatever amount may be awarded to the claimant. Upon posting of the bond the ship is released.