Definitions
There is 1 meaning of the phrase
Surety Bond.
Surety Bond - as a 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
Synonyms (Exact Relations)
performance bondExample Sentences
"He was required to submit a surety bond in order to secure the construction project."
"The surety bond would ensure that the contractor fulfilled their obligations."
"The company had to provide a surety bond to guarantee payment to their clients."
"The court demanded a substantial surety bond to release the accused on bail."
"A surety bond is often required for individuals starting a new business."
