I was recently helping to crew a sailing boat. Before an overseas passage from Aus to PNG the owner tried to get the crew to pay a 'Security Bond' of Aus$3000 each. His explanation for the demand was that it was suggested in one of Jimmy Cornells books.
We all refused and left the boat.
This is the first time in some forty years of sailing other peoples boats that I have been asked for a 'Security Bond'.
Does anybody pay a 'Security Bond' - it seems to me to be a poor idea.
If the Owner does not trust the crew then why should the crew trust the Owner (to give the money back) ?
There was no offer of a contract over what the money could be used for and no offer to put the money into a trust account controlled by an independent person as would be normal in a real estate or motor vehicle transaction (in Queensland).
I think Jimmy is doing us sailors a disservice with this suggestion.