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Qué (quién) es suretyship$80591$ - definición

MANDATORY ONE-SIDED CONTRACT, IS USED IN THE BANKING SECTOR

Surety bonds; Surety bond; Suretyship; Surety Bonds; Tax bond; License and permit bond; License and Permit; Guarantor; Accommodation party; Sureties; Mixed Beverage Gross Receipts Tax Bond; Surety agreement; Bonding company; Bonding Companies; Suretie; Guarantors; Suretyships; Surety ship; Surety ships; Bank guarantees; Surety company; Bond Rider; Contract of suretyship

surety

n. a guarantor of payment or performance if another fails to pay or perform, such as a bonding company which posts a bond for a guardian, an administrator or a building contractor. Most surety agreements require that a person looking to the surety (asking for payment) must first attempt to collect or obtain performance from the responsible person or entity. See also: bond guarantor

guarantor

(guarantors)

A guarantor is a person who gives a guarantee or who is bound by one. (LEGAL)

N-COUNT

Sureties

·pl of Surety.

Wikipedia

Surety

In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. The person or company providing the promise is also known as a "surety" or as a "guarantor".

https://en.wikipedia.org/wiki/Surety