surety

Definitions (3)
Related Terms
1. Person or firm (such as a bank, bonding company, insurance company) that agrees to be primarily liable for the conduct, obligation, or performance of another. Surety who pays the debt of a borrower-in-default, in general, automatically acquires an assignment of a creditor's legal right to recover the amount paid from the borrower.
2. Formal pledge lodged, or sum of money deposited, as a guaranty against a damage or loss, non-fulfillment of an obligation, or unfaithfulness (such as of an accused on bail). See also surety bond.
3. Requirement that a product or system will meet its operational specifications under the specified conditions.

Use 'surety' in a Sentence

She co-signed my loan application as a surety, thereby becoming a guarantor for the full amount of the loan in the unlikely event that I would default on my payments.
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If you don't have a good enough credit score for the loan look for a surety to get on your side so the bank will loan you.
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The surety was in place to assuage our stress about entering into the mildly risky business dealing. Fortunately we plan our work and work our plan to perfection which helps as well.
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