Position Bond(redirected from Bond, Position)
A fidelity bond covering the jobs named on the bond. A fidelity bond compensates a company in the event it loses money as the result of employee theft or fraud. A position bond limits this coverage to the positions named in it. For example, a position bond may cover theft by the vice president of marketing, regardless of who fills that position at a given time. See also: Name schedule bond.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved