What is Bottomry Bond?

Legal Definition
The instrument embodying the contract or agreement of bottomry. The true definition of a bottomry bond, in the sense of the general maritime law, and independent of the peculiar regulations of the positive codes of different commercial nations, is that it is a contract for a loan of money on the bottom of the ship, at an extraordinary interest, upon maritime risks, to be borne by the lender for a voyage, or for a definite period. The Draco, 2 Sumn. 157, Fed. Cas. No. 4,057; Cale v. White, 26 Wend. (N. Y.) 515; Greely v Smith, 10 Fed. Cas. 1077; The Grapeshot, 9 Wall. 135, 19 L. Ed. 651.
-- Black's Law Dictionary