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How to Replace Advanced Field to the Indenture

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The text discusses the historical practices of labor on plantations in British colonies, focusing on the transition from enslaved Africans to indentured servants from India after the abolition of slavery. Following this shift, millions were compelled to sign contracts for five to ten years, often facing severe abuse and exploitation. This "hidden history" is deliberately overlooked in national narratives, despite the potential for survivors to still be alive today. The account highlights Maria Caledine's family history, as her great-grandfather was recruited through this indenture system to work on a sugar plantation in British Guyana. Motivated by the obscurity of her family’s past, Maria chose to specialize in this area to shed light on these experiences.

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Why is it called an indenture?

The term comes from the medieval English indenture of retainera legal contract written in duplicate on the same sheet, with the copies separated by cutting along a jagged (toothed, hence the term indenture) line so that the teeth of the two parts could later be refitted to confirm authenticity (chirograph).

Is an indenture a loan?

Definition: An indenture is a legally binding bond or loan document in which two parties agree on a set of conditions and loan terms requiring the borrower to pay the lender a series of principle and interest payments over time.

Is an indenture the same as a lease?

The format of the lease has been agreed upon and forms part of the Indentures. Thus, the Indentures in question are a license and not a lease as per the definition of lease under the Transfer of Property Act and license under the Indian Easement Act.

What is the difference between an indenture and a loan agreement?

A credit agreement usually carries a term of five years or less; an indentures term is usually seven to ten years. A credit agreement can be, and often is, amended with some regularity; an indenture can only be amended by consent solicitation, which is costly and time consuming.

What is an indenture in finance?

An indenture is a legal and binding contract usually associated with bond agreements, real estate, or bankruptcy. An indenture provides detailed information on terms, clauses, and covenants.

What is an indenture document?

An indenture is a particular formal contract or deed made between two or more parties. Beginning in medieval England, an indenture can be defined as a specific agreement within a contract noted with a specific duration or significance.

What is the difference between a bond agreement and a bond indenture?

A bond agreement represents the basic terms and conditions associated with a bond. In contrast, a bond indenture is a comprehensive form of the bond agreement. A bond indenture contains numerous pages containing the legal wordings, whereas a bond agreement explains the par value, maturity date, and coupon rate.

Which are elements of the indenture?

Contents of a Bond Indenture Purpose. This clause states the reason why the bonds are being issued. Interest Rate. This clause contains the interest rate stated on the face of the bond. Interest Calculation. This clause describes the formula used to calculate the amount of interest to be paid.

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Replace Advanced Field to the Indenture