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TeachMeFinance.com - explain Guaranteed bond historic definition... Guaranteed bond -- A bond the payment of the principal of and interest on which is guaranteed by another. A railroad which leases another railroad usually guarantees the principal of and interest on the bonds (and often the dividends on the stock) of the leased road. historic accounting definition (British)... Guarantee bond -- A bond given by a guarantor or surety, under which the guarantor or surety holds himself responsible for the performance of certain specified duties by the person foi whose fidelity he vouches. A bond of this kind is frequently given when the person whose fidelity is vouched for occupies a position of great responsibility or trust. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.