In finance, a surety, surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. The person or company providing the promise is also known as a " surety" or as a "guarantor". A surety most typically requires a guarantor when the ability of the ...
Definition of Surety in the Financial Dictionary - by Free online English dictionary and encyclopedia. What is Surety? Meaning of Surety as a finance term. What does Surety mean in finance?
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The obligee, usually a government entity, requires the principal, typically a business owner or contractor, to obtain a surety bond as a guarantee against future work performance. The surety is the company that provides a line of credit to guarantee payment of any claim. The surety provides a financial guarantee to the ...
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