surety agreement
1surety bond — ➔ bond * * * surety bond UK US noun [C] ► LAW a legal agreement in which someone promises to pay a person or organization a sum of money if another person does not do something they had promised to do: »Contractors are not required to post a… …
2Surety bond — A surety bond is a contract among at least three parties: * The principal the primary party who will be performing a contractual obligation * The obligee the party who is the recipient of the obligation, and * The surety who ensures that the… …
3Surety — A surety is a person who agrees to be responsible for the debt or obligation of another. Furthermore, a surety is also a security against loss or damage or for the fulfillment of an obligation, the payment of a debt, etc.; a pledge, guaranty, or… …
4surety — One who at the request of another, and for the purpose of securing to him a benefit, becomes responsible for the performance by the latter of some act in favor of a third person, or hypothecates property as security therefor. One who undertakes… …
5surety — n 1. security, indemnity, assurance, insurance, guarantee, pledge, warranty, warrant; bond, bail, Law. replevin, Law. escrow, Marine Law. bottomry; gage, earnest, stake, deposit, money in advance, collateral; hostage, pawn, hock; contract, vow,… …
6Security Agreement — A Security Agreement is a document used in financial transactions where the Grantor (typically the Borrower but can also be a Guarantor or Surety) assigns, grants and pledges to the Grantee (typically the Lender) a security interest in personal… …
7hold harmless agreement — A contractual arrangement whereby one party assumes the liability inherent in a situation, thereby relieving the other party of responsibility. Such agreements are typically found in leases, and easements. Agreement or contract in which one party …
8hold harmless agreement — A contractual arrangement whereby one party assumes the liability inherent in a situation, thereby relieving the other party of responsibility. Such agreements are typically found in leases, and easements. Agreement or contract in which one party …
9bond — bond1 bondable, adj. bondability, n. bonder, n. bondless, adj. /bond/, n. 1. something that binds, fastens, confines, or holds together. 2. a cord, rope, band, or ligament …
10Bond Violation — A breach of the terms of a surety agreement. A bond violation occurs when a surety bond, which protects one party against a financial loss caused by the other party s failure to perform, fails to meet the conditions of the agreement. For example …
