bond, surety
n.
A bond issued by a surety promising to perform an obligation if the person who is supposed to perform it defaults.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

Look at other dictionaries:

  • bond — 1 n 1 a: a usu. formal written agreement by which a person undertakes to perform a certain act (as appear in court or fulfill the obligations of a contract) or abstain from performing an act (as committing a crime) with the condition that failure …   Law dictionary

  • surety — sure·ty / shu̇r ə tē/ n pl ties [Anglo French seurté, literally, guarantee, security, from Old French, from Latin securitat securitas, from securus secure] 1: a formal engagement (as a pledge) given for the fulfillment of an undertaking 2: one… …   Law dictionary

  • surety bond — ➔ bond * * * surety bond UK US noun [C] ► LAW a legal agreement in which someone promises to pay a person or organization a sum of money if another person does not do something they had promised to do: »Contractors are not required to post a… …   Financial and business terms

  • surety bond — see bond 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. surety bond …   Law dictionary

  • surety — One who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act in favor of a third person, or hypothecates property as security therefor. One who undertakes… …   Black's law dictionary

  • Surety — A surety is a person who agrees to be responsible for the debt or obligation of another. Furthermore, a surety is also a security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc.; a pledge, guaranty, or… …   Wikipedia

  • surety bond — noun a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance • Syn: ↑performance bond • Hypernyms: ↑bond, ↑bond certificate * * * noun : a written… …   Useful english dictionary

  • bond certificate — noun a certificate of debt (usually interest bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the… …   Useful english dictionary

  • Bond — Bond, bonds, bonded, and bonding may refer to:Fiduciary bonds*Bond (finance), in finance, a debt security, issued by Issuer **Government bond, a bond issued by a national government ***Government bond register, a register of bonds issued by a… …   Wikipedia

  • bond — bond1 [bänd] n. [ME bond, band: see BAND1] 1. anything that binds, fastens, or restrains 2. [pl.] a) fetters; shackles b) Archaic imprisonment; captivity 3 …   English World dictionary

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