A more thorough explanation:

Bottomry, also known as a bottomry bond, is a type of contract used in maritime law. It involves a shipowner using their ship as collateral for a loan to finance a voyage or a specific period of time. The loan is typically used to cover expenses related to the voyage, such as repairs or emergencies.

However, the lender can only enforce the contract if the ship survives the voyage. If the ship is lost or does not return, the lender cannot demand repayment of the loan. If the ship returns safely, the shipowner is responsible for repaying the loan.

John is a shipowner who needs to finance a voyage to transport goods from one country to another. He takes out a bottomry bond with a lender, using his ship as collateral. The lender agrees to provide John with the necessary funds to cover expenses related to the voyage, such as fuel, repairs, and crew wages.

If the ship completes the voyage successfully, John will be responsible for repaying the loan with interest. However, if the ship is lost at sea, the lender cannot demand repayment of the loan.

This example illustrates how a bottomry bond works in practice. It shows how a shipowner can use their ship as collateral to obtain a loan for a voyage, while also protecting the lender from the risks associated with maritime travel.