It is a debt security that reflects the issuer's obligation to the creditor. It is a fungible security where are the right to payment of the amount due, the payment of fixed yields and obligation of the issuer to meet all obligations.

Bonds can be classified according to several criteria, most bonds are divided according to the risk, the issuer (government, corporate, municipal, banking and treasury bills), maturity and the interest repayment (fixed rate notes, floating rate, zero, indexed). Outside of these groups can be found a number of other divisions such as division by form, etc.