Respondentia Bond Law and Legal Definition

Hypothecation of a ship’s cargo is called respondentia and is effected by a respondentia bond. A respondentia bond is a loan upon the mortgage or hypothecation of a ship’s cargo and generally, it is only a personal obligation on the borrower. It is not a specific lien on the goods unless there is an express stipulation in the bond. In case of loss, the loan amounts to an equitable lien on the salvage.