SURETY BOND

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

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

Synonyms:

performance bond; surety bond

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("surety bond" is a kind of...):

bond; bond certificate (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 principal)

Credits