Indentured servitude is a form of labor in which an individual is under contract to work without a salary to repay a loan. Indentured servitude was of immense value to colonial America.Indentured servitude is a form of labor where an individual is under contract to work without a salary to repay an indenture or loan. Indentures are a type of contract that was torn in two, so each party could have a portion. The idea of indentured servitude was born of a need for cheap labor. Indentured servants were people who came to America under a work contract, called an indenture. A). Apprenticeship was a common means of training artisans in the colonies. This collection contains indentures, apprenticeships, and manumissions for the following states and localities: Indentured servants -- North Carolina. The life of an indentured servant was usually difficult and unpleasant.