Bailor

What Does Bailor Mean?

A bailor is a person who transfers assets to another party for temporary safekeeping. Property insurance should be purchased for any items given to a bailor, in case the property is damaged or lost while under their care.

Insuranceopedia Explains Bailor

Various types of assets, including stocks, bonds, jewelry, and cash, can be temporarily transferred to others by bailors. In such transactions, the bailee does not actually own the assets they receive; instead, they temporarily manage and safeguard them on behalf of the bailor.