surety
/'ʃuəti/
Học thuậtThân thiện
Definition
- Noun:
- A guarantee that an obligation will be met: A formal promise or assurance, often involving financial responsibility, that someone will fulfill a duty (e.g., paying a debt, appearing in court).
- One who provides a warrant or guarantee to another: A person who accepts legal liability for another's debt or performance.
- Property that your creditor can claim in case you default on your obligation: An asset pledged as collateral to secure a loan or obligation.
- Something clearly established: (Archaic) The state of being certain or sure.
Usage and Examples
- As a guarantee:
- The bank required a surety from a third party before approving the loan.
- He provided a personal surety for the contractor's performance bond.
- As a person (guarantor):
- She acted as a surety for her brother's bail.
- The surety is liable if the defendant fails to appear in court.
- As pledged property (collateral):
- They used their house as surety for the business loan.
- (Archaic) As certainty:
- I can say with surety that the event will proceed as planned.
Advanced Usage
- "To stand surety for someone": To act as a formal guarantor for another person's obligations.
- The CEO agreed to stand surety for the company's new line of credit.
- "Surety bond": A specific three-party contract where the surety guarantees an obligor's performance to an obligee.
- Construction companies often need to obtain a surety bond for public projects.
Variants and Related Words
- Sure (adj): Confident, certain, or reliable.
- Surely (adv): Undoubtedly, certainly, or without doubt.
- Ensure (verb): To make certain that something will occur.
- Assure (verb): To tell someone positively to dispel doubts.
- Insurance (noun): A practice of providing financial protection against loss.
Synonyms
- Guarantee: A formal promise or assurance.
- Guarantor: A person who gives a guarantee.
- Security: Something pledged as collateral.
- Bail: The temporary release of an accused person awaiting trial, often secured by a surety.
- Warranty: A written guarantee for a product.
Related Phrases and Terms
- Principal and surety: The primary debtor (principal) and the person guaranteeing the debt (surety).
- Forfeit a surety: To lose pledged money or property due to non-performance.
- Surety company: A specialized company that issues surety bonds.
Idioms and Fixed Expressions
- "Of a surety": (Archaic) Certainly; without a doubt.
- Of a surety, this is the best course of action.
Noun
- a guarantee that an obligation will be met
- one who provides a warrant or guarantee to another
- a prisoner who is held by one party to insure that another party will meet specified terms
- property that your creditor can claim in case you default on your obligation
- bankers are reluctant to lend without good security
- something clearly established