When two thin plates or layers are bonded together, an extremely thin bond layer of third material exists between the two layers. This research work examines the effect of bond layer on the interfacial shearing and peeling stresses in a bimaterial model. Earlier papers on this topic are based on several mutually contradictory expressions for the shear compliance of the bond layer. This paper is aimed at resolving this ambiguity and presents derivation of shear compliance on a rational basis. A numerical example is carried out for a silicon-copper system with a gold-tin solder bond layer. The results obtained are likely to be useful in interfacial stress evaluation and physical design of bimaterial assemblies used in microelectronics and photonics applications.