Any organization that decides to borrow from the public instead of a bank
or other financial organization will have to issue a bond.
A bond represents an instrument of indebtedness by the party involved
which could be the government or an organization. The bonds are issued to
them at a particular amount which is then used to run the business or for
other important purposes.
However, the bonds issued will have to be repaid after a certain period of
time. The principal and interest accrued is usually paid and is bound by law.
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