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Meaning of “judicial bond” in the English Dictionary

"judicial bond" in Business English

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judicial bondnoun [C]

uk   us   LAW
a ​documentordered by a ​court of ​law in which a ​person or ​company promises to ​pay a particular ​amount of ​money to the ​person or ​company on the other ​side of a ​legalaction if they ​fail to do something that they have been ​ordered to do, cause delay in the ​legalaction, etc.
(Definition of judicial bond from the Cambridge Business English Dictionary © Cambridge University Press)
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