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zero-coupon bond A bond paying no interest. It is sold at a discount price and later redeemed at face value, the profit being the difference. Also termed passive bond. See zero-coupon security under SECURITY.

zero-coupon security A security (esp. a bond) that is issued at a large discount but pays no interest. The face value of the bond is payable at maturity.

zone search A search of a crime scene (such as the scene of a fire or explosion) by dividing it up into specific sectors. Also termed sector search. 2. An examination of public documents or records for information; esp., TITLE SEARCH. 3. The wartime process of boarding and examining the contents of a merchant vessel for contraband. A number of treaties regulate the manner in which the search must be conducted. See RIGHT OF SEARCH.