fiduciary bond

fiduciary bond definition - business

fiduciary bond

An insurance bond that guarantees the honest and faithful performance of executors, trustees, and other fiduciaries. A fiduciary bond is often required by statute in order to protect the interests of those for whom the fiduciary acts. Also called probate bond.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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