Bond
Term · Environment · MLC-T-ENV-003527
A bond is a formal agreement by the importer to forfeit a specified sum of money, based on the value of the vehicle, engine, or equipment being imported, if he or she fails to adhere to the conditions of importation.
| Identifier | MLC-T-ENV-003527 |
|---|---|
| Field | Environment |
| Subject | Air |
| References | Importing Vehicles and Engines Glossary |
Record as JSON
{
"id": "MLC-T-ENV-003527",
"term": "Bond",
"field": "Environment",
"definition": "A bond is a formal agreement by the importer to forfeit a specified sum of money, based on the value of the vehicle, engine, or equipment being imported, if he or she fails to adhere to the conditions of importation.",
"subject": "Air",
"references": [
"Importing Vehicles and Engines Glossary"
],
"url": "https://mlchart.com/terminology/environment/bond/"
}
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