Assumed bond is a financial term used to describe a bond that is issued without any formal agreement or contract. It is also known as an implied bond. There are several synonyms for the term "assumed bond," including inferred bond, understood bond, tacit bond, and implicit bond. These terms all convey the same idea of a bond that is created through the assumption of an agreement or understanding between parties, rather than a formal legal document. The use of assumed bonds is common in certain industries, such as the construction industry, where contractors may assume an obligation to complete work even without a formal contract.