surety


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surety

1. a person who assumes legal responsibility for the fulfilment of another's debt or obligation and himself becomes liable if the other defaults
2. security given against loss or damage or as a guarantee that an obligation will be met
3. stand surety to act as a surety

surety

A person or organization who, for a consideration, promises in writing to make good the debt or default of another.
References in periodicals archive ?
Liberty Mutual Surety has appointed Douglas Schrift and charged him with developing the company's Subcontractor Default Insurance (SDI) offering.
The newly-formed entity provides surety bonds to Mexican-domiciled organizations and enables Tokio Marine HCC - Surety Group to produce business for customers in the United States, Japan, Europe and other countries worldwide with surety needs in Mexico.
Police obtain fresh surety bonds from 29 out of 34 individuals put on watchlist, including 31 members of proscribed outfits
Dentists must secure a bond through a surety company, like Viking Bond Service, which uses carriers who are A Rated and appear on the U.S.
Many business owners may be aware of the concept of surety bonds, but understanding how they work in practice is not widely known.
Theoretical advancements of risk logics in the context of bail are useful in explaining why there has been such an emphasis on surety releases in recent years (see Myers 2009; Webster et al.
CHESHIRE, Conn.: IAT Insurance Group hired Ken Chapman as Executive Vice President, Surety. He will lead IAT's new surety business, following the closing of IAT's acquisition of IFIC Surety Group, expected to be finalized in 3Q 2018.
Oklahoma Attorney General Mike Hunter and medical cannabis advocates argued the Oklahoma Board of Health's rule requiring a surety bond for medical marijuana dispensaries is overreaching.
The Insurance Commission is urging the National Labor Relations Commission (NLRC) to reconsider its en banc resolution requiring insurance companies to pay surety bonds, notwithstanding if the bonds were deemed fake or not issued by them.
ISLAMABAD -- Kashmiri journalists working in Delhi and one based in Doha joined hands to raise money needed for the surety bond for the release of illegally detained Kashmiri photojournalist, Kamran Yousuf, on bail.