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English definition of “bearer”

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bearer

noun [C]
 
 
/ˈbeərər/ BANKING, FINANCE
someone who has in their possession a document, such as a bond or share, which they can legally exchange for a sum of money: Letters of credit are documents issued by banks which give the bearer the authority to draw a stated sum of money on the bank or its agencies. The bonds promised to repay the bearer the full amount, plus 25% in 20 years' time. The bonds are normally in bearer form, which means the physical holder of the certificate is deemed to be the owner. →  See also payable to bearer
(Definition of bearer from the Cambridge Business English Dictionary © Cambridge University Press)
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