A long term bond or note used by governments and corporations and not secured by a mortgage or lien a any specific property. Since there is no specific property the ability to repay the debt is based solely on the financial strength of the issuer.

A debt that is issued by a corporation and that is backed or secured by the good name of the issuing company.

An unsecured bond whose holder has the claim of a general creditor on all assets of the issuer not pledged specifically to secure other debt. Compare subordinated debenture bond, and collateral trust bonds.

A bond not secured by a specific pledge of property. Assets that are not pledged specifically to secure other debt may be used to satisfy any debenture bondholder's claims. See also: Unsecured Obligation Bond.

Debt limitation Decimal trading