Surety

/ˈʃʊər.ɪ.ti/

Meaning & Definition

noun

The state of being sure or certain; confidence.

She spoke with surety about her decision to move.

A guarantee; a formal assurance, especially in legal contexts.

The bank required a surety for the loan to ensure repayment.

A person who takes responsibility for another, especially in a legal agreement.

He became the surety for his friend's bail.

An amount of money that is pledged as security for the performance of a contract.

They paid a surety deposit before beginning the construction project.

Middle English, from Old French 'surté' or Latin 'securitas' meaning security, assurance.

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.

guarantor

A person who provides a guarantee.

bond

A formal contract to repay borrowed money.

collateral

An asset used as security for a loan.