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bottomry    
n. 船舶抵押契约,冒险借贷

船舶抵押契约,冒险借贷

Bottomry \Bot"tom*ry\, n. [From 1st {Bottom} in sense 8: cf. D.
bodemerij. Cf. {Bummery}.] (Mar. Law)
A contract in the nature of a mortgage, by which the owner of
a ship, or the master as his agent, hypothecates and binds
the ship (and sometimes the accruing freight) as security for
the repayment of money advanced or lent for the use of the
ship, if she terminates her voyage successfully. If the ship
is lost by perils of the sea, the lender loses the money; but
if the ship arrives safe, he is to receive the money lent,
with the interest or premium stipulated, although it may, and
usually does, exceed the legal rate of interest. See
{Hypothecation}.
[1913 Webster]

BOTTOMRY, maritime law. A contract, in nature of a mortgage of a ship, on
which the owner borrows money to enable him to fit out the ship, or to
purchase a cargo, for a voyage proposed: and he pledges the keel or bottom
of the ship, pars pro toto, as a security for the repayment; and it is
stipulated that if the ship should be lost in the course of the voyage, by
any of the perils enumerated in the contract, the lender also shall lose his
money but if the ship should arrive in safety, then he shall receive back
his principal, and also the interest agreed upon, which is generally called
marine interest, however this may exceed the legal rate of interest. Not
only the ship and tackle, if they arrive safe, but also the person of the
borrower, is liable for the money lent and the marine interest. See 2 Bl.
Com. 458; Marsh. Ins. B. 21 c. 1; Ord. Louis XIV. B. 3, tit. 5; Laws of
Wishuy, art. 45 Code de Com. B. 2, tit. 9.
2. The contract of bottomry should specify the principal lent, and the
rate of marine interest agreed upon; the subject on which the loan is
effected the names of the vessel and of the master those of the lender and
borrower whether the loan be for an entire voyage; for what voyage and for
what space of time; and the period of re-payment. Code de Com. art. 311
Marsh. Ins. B. 2.
3. Bottomry differs materially from a simple loan. In a loan, the money
is at the risk of the borrower, and must be paid at all events. But in
bottomry, the money is at the risk of the lender during the voyage. Upon a
loan, only legal interest can be received; but upon bottomry, any interest
may be legally reserved which the parties agree upon. See, generally, Metc.
& Perk. Dig. h. t.; Marsh. Inst. B. 2; Bac. Abr. Merchant, K; Com. Dig.
Merchant. E 4; 3 Mass. 443; 8 Mass. 340; 4 Binn. 244; 4 Cranch, 328; 3 John.
R. 352 2 Johns. Cas. 250; 1 Binn. 405; 8 Cranch, 41 8; 1 Wheat. 96; 2 Dall.
194. See also this Dict. tit. Respondentia; Vin. Abr. Bottomry Bonds 1 Bouv.
Inst. n. 1246-57.


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  • Bottomry - Wikipedia
    A bottomry, or bottomage, is an arrangement in which the master of a ship borrows money upon the bottom or keel of it, so as to forfeit the ship itself to the creditor, if the money with interest is not paid at the time appointed at the ship's safe return
  • Bottomry: What It is, How It Works, Example - Investopedia
    What Is Bottomry? Bottomry, referring to the ship's bottom or keel, is a maritime transaction, where the owner of a vessel borrows money and uses the ship itself as collateral
  • Bottomry | Maritime Contracts, Security Interests Liens | Britannica . . .
    bottomry, a maritime contract (now almost obsolete) by which the owner of a ship borrows money for equipping or repairing the vessel and, for a definite term, pledges the ship as security—it being stipulated that if the ship be lost in the specified voyage or period, by any of the perils enumerated, the lender shall lose his money
  • Bottomry: A Historical Maritime Transaction Explained
    Bottomry, deriving its name from the ship’s bottom or keel, represents a unique form of financing in maritime history In this transaction, a shipowner borrows funds by pledging the ship itself as collateral
  • BOTTOMRY Definition Meaning | Merriam-Webster Legal
    The meaning of BOTTOMRY is a contract under which the owner of a ship pledges the ship as collateral for a loan to finance a journey How to use bottomry in a sentence
  • What is Bottomry? - Definition from Insuranceopedia
    What Does Bottomry Mean? Bottomry is a credit arrangement, rarely used today, in which the owner of a ship or its captain secures a loan with the ship as collateral After the ship’s voyage, the borrower must repay the loan; otherwise, the lender becomes the owner of the ship
  • bottomry | Wex | US Law | LII Legal Information Institute
    Bottomry, also known as a bottomry bond , is a contract where a shipowner provides his or her ship as security for a loan to finance a voyage or for a certain period of time The shipowner usually uses the loan for maritime (i e sea-related) risks (e g repairs, equipment, emergencies) during the voyage
  • bottomry - Wiktionary, the free dictionary
    bottomry (countable and uncountable, plural bottomries) An early form of maritime contract in which the owner of a ship could borrow money using the ship as collateral
  • BOTTOMRY definition and meaning | Collins English Dictionary
    Click for English pronunciations, examples sentences, video
  • bottomry - Meaning in Law and Legal Documents, Examples and FAQs
    Bottomry is a legal term that refers to a type of loan specifically for ships or vessels When a ship owner needs money to repair their ship or pay for expenses while at sea, they can borrow money using the ship as collateral





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