I. ˈbäd.əmrē, -ätəm-, -ri noun
( -es )
Etymology: alteration (influenced by -ry ) of earlier bottomary, modification (influenced by bottom ) (I) of Dutch bodemerij, from bodem bottom, ship + -erij -ery, from Old French -erie; akin to Old High German bodam bottom — more at bottom
: a contract in the nature of a mortgage by which either 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 with the lender losing his money if the ship is lost by the perils of the sea but receiving with his loan the interest or premium stipulated if the ship arrives safe — compare respondentia
II. transitive verb
( -ed/-ing/-s )
: to pledge by a bottomry bond