Bonding is the same as port trunking. In the following I will use the word bonding because practically we will bond interfaces as one. Bonding allows you to aggregate multiple ports into a single group, effectively combining the bandwidth into a single connection. Bonding also allows you to create multi-gigabit pipes to transport traffic through the highest traffic areas of your network. For example, you can aggregate three megabits ports into a three-megabits trunk port. That is equivalent with having one interface with three megabytes speed.
Where should I use bonding?
You can use it wherever you need redundant links, fault tolerance or load balancing networks. It is the best way to have a high availability network segment. A very useful way to use bonding is to use it in connection with 802.1q VLAN support (your network equipment must have 802.1q protocol implemented).
Junji's Blog Site 