Meaning & Definition of word "Surety"
to
Surety
/ˈʃʊər.ɪ.ti/
noun:
- 1. The state of being sure or certain; confidence.
- Example: She spoke with surety about her decision to move.
- 2. A guarantee; a formal assurance, especially in legal contexts.
- Example: The bank required a surety for the loan to ensure repayment.
- 3. A person who takes responsibility for another, especially in a legal agreement.
- Example: He became the surety for his friend's bail.
- 4. An amount of money that is pledged as security for the performance of a contract.
- Example: They paid a surety deposit before beginning the construction project.
Etymology
Middle English, from Old French 'surté' or Latin 'securitas' meaning security, assurance.
Common Phrases and Expressions
surety bond:
A bond that guarantees the performance of an obligation.
with surety:
With confidence or certainty.
take surety:
To guarantee the performance of another.
Related Words
guarantor:
A person who provides a guarantee.
bond:
A formal contract to repay borrowed money.
collateral:
An asset used as security for a loan.