Others, such as Government Savings Bonds and some types of Bank Deposit contracts, are not negotiable and must be held until maturity or refunded by the issuer.
Bonds are available in various terms and from many issuers.
The coupon is set when the bond is issued and usually stays unchanged for the term of the bond. The investors advance this amount in return for the promise by the issuer to pay the coupon as stated and the principal amount at maturity. Bonds range in term from 1 year to 40 years. However, there are exceptions, as seen in 1993 when the Disney Corporation issued a 100 year bond. Bonds are identified by their issuer, coupon, and term.