A ransom bond was a legally binding document issued as a promise for future payment for the safety and the release of a captured marine vessel. It was particularly in use during the American Civil War when Confederate States Navy privateers would seize Union merchant vessels and hold them for ransom.
A ransom bond was a legally binding document issued as a promise for future payment for the safety and the release of a captured marine vessel. It was particularly in use during the American Civil War when Confederate States Navy privateers would seize Union merchant vessels and hold them for ransom.
Source: Wikipedia "Ransom bond" · CC BY-SA 4.0
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