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Definition of Surety bond
1. Noun. A bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance.
Definition of Surety bond
1. Noun. (legal) : A bond issued by one party, the surety, guaranteeing that he will perform certain acts promised by another or pay a stipulated sum, up to the bond limit, in lieu of performance, should the principle fail to perform. ¹
2. Noun. (legal) : In a criminal case, the surety (or bail) bond assures the appearance of the defendant or the repayment of bail forfeited upon the defendant's failure to appear in court. ¹
¹ Source: wiktionary.com
Lexicographical Neighbors of Surety Bond
Literary usage of Surety bond
Below you will find example usage of this term as found in modern and/or classical literature:
1. Journal by General Assembly, Pennsylvania General Assembly. Senate, Pennsylvania (1906)
"Delaware County Trust, Safe Deposit and Title Insurance Company, Chester: Bond
86, 30000 Directors Surety. Bond 499, 50000 Corporate Surety. ..."
2. Supreme Court Reporter by Robert Desty, United States Supreme Court, West Publishing Company (1915)
"From such companies no surety bond would be accepted. From companies which had
invested at least one fourth of their reserve on South Carolina policies In ..."
3. Insurance, Principles and Practices by Robert Riegel, Henry James Loman (1922)
"APPENDIX CXVI surety bond (SCHEDULE) THE .............. INSURANCE CO. 'BOND No.
... surety bond ..."
4. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1922)
"ing as plaintiff the name of Mrs. Mabel Leigh, on the ground that the surety bond
in question had been assigned to her by Stoddard as security for a large ..."
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