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Book entry bond refers to a bond whose ownership is recorded by computer but for which no certificate is issued. Book entry bonds are not available on paper. The details of the Book entry bonds are stored in computer in the form of book entries. Book entry bonds do not issue certificates but the computer maintains all the records regarding ownership and other details. Since 1981, US treasury department has been using Book entry method to determine the ownership of a particular bond. Book entry bonds are low cost, easy to maintain or update and easy to access the records. Book entry bonds are also known as book receipts.