surety
1
8.9
- noun
- /ˈʃʊrɪti/
- Formal
:
garantía
- When VDOT officials found out, they directed the neighborhood group to submit the required paperwork and put up a $10,000 surety bond to ensure the work is completed correctly.
- surety bond
Examples
-
To secure the loan, the bank required a surety from the borrower.
-
This surety will be required even when the shipment is already covered by adequate insurance.
Academic text (1992) -
Mr. Paris, bail is set at $500,000 with surety, or $50,000 cash.
-
It was a surety bond in the amount of 700,000 Imperials.
Fiction book (1991) -
It was my job to register the company with all of the state insurance departments that the company did business in. Part of said registration required getting a surety bond worth $100,000.
Blog text (19) -
Typically, defendants rely on friends or family members to either post cash bail at a predetermined facility or visit a bail bonding company, which then posts a surety bond.
Academic text (2017) -
He provided a surety bond to guarantee the completion of the construction project.
-
The landlord asked for a surety deposit before renting out the apartment.
Synonyms
169
3.5
A promise by someone to pay a debt if another person fails
88
4.6
Property given to a lender as a guarantee for a loan
4
8.2
A written promise to pay someone else's debt if they cannot
1
7.7
A promise by another company to pay the client if a contract is not fulfilled
Compounds
- Formal
1
7.7
A promise by another company to pay the client if a contract is not fulfilled
Surface Forms
Morphology
Etymology
Surety comes from the Latin root secur- meaning 'without care' and the same idea as secure. So a surety can be property or a pledge that makes a lender feel safe and guarantees payment.