surety bond

/ˌʃʊrədi bɑnd/
IPA guide

Other forms: surety bonds

Definitions of surety bond
  1. noun
    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
    see moresee less
    type 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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