surety

(shʊr'ĭ-tē)
n., pl., -ties.

1. The condition of being sure, especially of oneself; self-assurance.
2. Something beyond doubt; a certainty.
3. A pledge or formal promise made to secure against loss, damage, or default; a security.
4. One who has contracted to be responsible for another, especially one who assumes responsibilities or debts in the event of default.

[Middle English surte, from Old French, from Latin sēcūritās, from sēcūrus, sure. See secure.]

suretyship sur'e·ty·ship' n.

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Guaranty of debt repayment or fulfillment of contractual obligation. Borrowers unable to obtain credit under their own name often have a third party sign the application. Under a surety agreement, the lender can look first to the surety or guarantor for payment if the borrower defaults. A surety who pays a borrower's debt takes an assignment of the creditor's rights through Subrogation and can attempt to recover that payment from the borrower.

One who guarantees the performance of another.


Example: Ridley employs a contractor to construct a house.
Under the contract , the contractor is required to obtain a performance bond against failure to perform the work. Ace Bonding Co. provides the bond, thereby acting as a surety. Should the contractor fail to perform, Ace compensates Ridley for damages.

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noun

1. The fact or condition of being without doubt: assurance, assuredness, certainty, certitude, confidence, conviction, positiveness, sureness. See certain/uncertain.
2. An assumption of responsibility, as one given by a manufacturer, for the quality, worth, or durability of a product: guarantee, guaranty, warrant, warranty. See obligation.
3. One who assumes financial responsibility for another: backer, guarantor, guaranty, sponsor, underwriter. Informal angel. See law, support/oppose.

A person or organization who, for a consideration, promises in writing to make good the debt or default of another.

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This entry contains information applicable to United States law only.

An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act.

When a guarantor or a sum of money is held as a guarantee for a loan in good faith.

Investopedia Says:
It is similar to a deposit on a loan or contract.

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For a list of words related to surety, see:

• Judges, Lawyers, and Others in the Court System - surety: person promising to make good another’s obligation
• Banking and Financial Services - surety: person liable for another’s debts
• Insurance - surety: guarantor, usu. insurance company

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See words rhyming with "surety."

  See crossword solutions for the clue Surety.

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

Dansk (Danish)
n. - kautionist, kaution, selvskyldner

idioms:

• stand surety for    kautionere for

Nederlands (Dutch)
borg, borgsteller, zekerheid

Français (French)
n. - (Fin, Jur) dépôt de garantie, caution, garant

idioms:

• stand surety    se porter garant

Deutsch (German)
n. - Bürge

idioms:

• stand surety    bürgen für

Ελληνική (Greek)
n. - βεβαιότητα, (νομ.) εγγυητής, εγγύηση

idioms:

• stand surety for    μπαίνω εγγυητής για

Italiano (Italian)
cauzione, fideiussore

idioms:

• stand surety for    farsi garante di

Português (Portuguese)
n. - segurança (f)

idioms:

• stand surety for    servir de fiador por

Русский (Russian)
уверенность, поручительство, гарантия, поручитель, гарант

idioms:

• stand surety for    поручиться за кого-л.

Español (Spanish)
n. - fianza, garantía, fiador, garante

idioms:

• stand surety    ser el fiador de uno, salir garante por, salir fiador de

Svenska (Swedish)
n. - säkerhet, visshet, borgen, borgensman

中文（简体）(Chinese (Simplified))
保证人, 担保, 保证

idioms:

• stand surety for    为某人做保证人

中文（繁體）(Chinese (Traditional))
n. - 保證人, 擔保, 保證

idioms:

• stand surety for    為某人做保証人

한국어 (Korean)
n. - 보증, 저당, 보증인

idioms:

• stand surety for    ~의 보증인이 되다

日本語 (Japanese)
n. - 保証, 抵当, 引受人, 連帯保証業者

العربيه (Arabic)
‏(الاسم) ثقه , يقين , الكفيل , الضامن‏

עברית (Hebrew)
n. - ‮ערב (להלוואה), בטוחה, ערבות, ודאות‬

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