surety
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
(n.) = fiador
Ex: If the contractor defaults in his performance and fails to fulfill his contractual promises, the surety can itself complete the contract, or pay damages up to the limit of the bond.