surety

surety
Generally the same as guarantor; however, in some states there are important distinctions. American Banker Glossary
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An individual or corporation that guarantees the performance or actions of another. Bloomberg Financial Dictionary

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surety sur‧e‧ty [ˈʆɔːrti ǁ ˈʆʊr-] noun [countable, uncountable] LAW
1. a person who promises to appear in court, pay a debt etc if someone else fails to do so:

• The use of individual sureties grew sharply as contractors found it increasingly difficult to get insurance.

• He had acted as surety for both companies when they borrowed to finance the projects.

2. an amount of money or other things of value someone gives to make sure someone else will appear in court, pay a debt etc:

• He was allowed out of custody with sureties totalling £12,000.

• a third party entering into a contract of surety

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surety UK US /ˈʃɔːrəti/ US  /ˈʃʊrətIi/ noun [C or U] (plural sureties) LAW
► a person who accepts legal responsibility for another person's debt or behaviour: act as surety for sb/sth »

He acted as surety for the two companies when they took out the original loan.

► a promise, or money or property given as a promise, that someone will do something that they have said they will do, such as pay a debt or appear in court: »

Analysts doubt whether Ford would have been able to raise such a large amount of debt without some kind of surety.

 »

A local shopkeeper and a relative had been prepared to put up a surety of $20,000, the court heard.


Financial and business terms. 2012.

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Look at other dictionaries:

  • surety — sure·ty / shu̇r ə tē/ n pl ties [Anglo French seurté, literally, guarantee, security, from Old French, from Latin securitat securitas, from securus secure] 1: a formal engagement (as a pledge) given for the fulfillment of an undertaking 2: one… …   Law dictionary

  • Surety — Sure ty, n.; pl. {Sureties}. [OE. seurte, OF. se[ u]rt[ e], F. s[^u]ret[ e]. See {Sure}, {Security}.] 1. The state of being sure; certainty; security. [1913 Webster] Know of a surety, that thy seed shall be a stranger in a land that is not theirs …   The Collaborative International Dictionary of English

  • Surety — Sure ty, v. t. To act as surety for. [Obs.] Shak. [1913 Webster] …   The Collaborative International Dictionary of English

  • surety — c.1300, from O.Fr. seurté, from L. securitatem (nom. securitas) freedom from care or danger, safety, security, from securus (see SECURE (Cf. secure)). Until 1966, the Fr. national criminal police department was the Sûreté nationale …   Etymology dictionary

  • surety — 1 security, bond, *guarantee, guaranty, bail Analogous words: *pledge, earnest, token, hostage, pawn 2 guarantor, *sponsor, backer, patron, angel …   New Dictionary of Synonyms

  • surety — ► NOUN (pl. sureties) 1) a person who takes responsibility for another s performance of an undertaking, e.g. the payment of a debt. 2) money given as a guarantee that someone will do something. 3) the state of being sure …   English terms dictionary

  • surety — [shoor′ə tē, shoor′tē] n. pl. sureties [ME seurte < OFr < L securitas < securus, sure, SECURE] 1. the state of being sure; sureness; assurance 2. something sure; certainty 3. something that makes sure or gives assurance, as against loss …   English World dictionary

  • Surety — 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… …   Wikipedia

  • surety — 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… …   Black's law dictionary

  • Surety — The guarantee of the debts of one party by another. A surety is the organization or person that assumes the responsibility of paying the debt in case the debtor policy defaults or is unable to make the payments. The party that guarantees the debt …   Investment dictionary

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