guaranteed bond
noun[C]
FINANCEukus(alsoguaranty bond)abondwhoseinterestpaymentsanotherorganizationpromisestopayif thepersonororganizationthatoriginallyborrowedthemoneyisunableto:
Guaranteedbondshave abetterratingthansimilarunguaranteedissuesas there is noriskofnon-payment.