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Dictionary entry overview: What does surety bond mean?
• SURETY BOND (noun)
The noun SURETY BOND has 1 sense:
1. 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
Familiarity information: SURETY BOND used as a noun is very rare.
Dictionary entry details
|Sense 1||surety bond [BACK TO TOP]|
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
Nouns denoting possession and transfer of possession
performance bond; surety bond
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)
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