Surety

Surety

A surety, surety bond or guaranty, in finance, is a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. The person or company that provides this promise, is also known as a surety or guarantor.

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Famous quotes containing the word surety:

    “You are our surety to immortal life,
    God’s hatred of the universal stain—
    The heritage, O Fear, of ancient strife
    Compounded with the tissue of the vein.”
    —Allen Tate (1899–1979)