respondentia Definition
a loan secured by a ship's cargo.
Using respondentia: Examples
Take a moment to familiarize yourself with how "respondentia" can be used in various situations through the following examples!
Example
The captain had to take out a respondentia loan to repair the ship.
Example
The respondentia was repaid once the cargo arrived safely at its destination.
respondentia Synonyms and Antonyms
Synonyms for respondentia
- bottomry
- cargo loan
Phrases with respondentia
bottomry and respondentia
a type of maritime lending where the shipowner borrows money to finance the voyage, using the ship itself as collateral
Example
The bank provided a bottomry and respondentia loan to the shipping company.
a document that outlines the terms of a respondentia loan
Example
The respondentia bond specified the amount of the loan and the interest rate.
the interest charged on a respondentia loan
Example
The respondentia interest was set at 10% per annum.
Origins of respondentia
from Latin 'respondere', meaning 'to pledge'
Summary: respondentia in Brief
'Respondentia' [ri-spon-den-shuh] is a noun that refers to a type of loan secured by a ship's cargo. It is commonly used in maritime lending, and can be repaid once the cargo arrives safely at its destination. 'Bottomry and respondentia' is a related phrase that describes a type of maritime lending where the ship itself is used as collateral.
