Fidelity bond

Definition of Fidelity bond

Contract of fidelity insurance. Runcie v. Corn Exchange Bank Trust Co., Sup., 6 N.Y.S.2d 616, 620. A guaranty of personal honesty of officer furnishing indemnity against his defalcation or negligence. Phillips v. Board of Education of Pineville, 283 Ky. 173, 140 S.W.2d 819, 822. A contract whereby, for a consideration, one agrees to indemnify another against loss arising from the want of honesty, integrity, or fidelity of an employee or other person holding a position of trust. Liberty Mut. Ins. Co. v. Thunderbird Bank, 25 Ariz.App. 201, 542 P.2d 39, 41. See also Bond; Fidelity and guaranty insurance; Insurance.

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