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He reminded them of their insurance and indemnity bond costs, and of the "squeeze" they paid state politicians.
These documents are frequently referred to as "bills of exchange," "promissory bonds," "indemnity bonds," "offset bonds," "sight drafts," or "comptrollers warrants."
On July 10, the company had to post an indemnity bond to avoid the impoundment of President Arthur for a disputed bill owed to Morse Dry Dock for the ship's 1924 refit.
Once the three-year period expired, if a slave had any remaining debt, the Protector's Office would step in and pay it with an "indemnity bond" - but only at the discounted value of 23% of the claimed debt.
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