Terms & Glossaries of Shipping and Trading

Blanket Bond

Blanket Bond is a bond covering a group of persons, articles or properties.

What is Blanket Bond?

A blanket bond is an insurance coverage carried by brokerages, investment bankers, and other financial institutions to protect them against losses due to employee dishonesty. Blanket bonds typically cover forged checks, transactions involving counterfeit currency, fraudulent trading, and property damage.