surety

(redirected from Penalty Bond)
Also found in: Thesaurus, Legal, Financial, Encyclopedia.

sur·e·ty

 (sho͝or′ĭ-tē)
n. pl. sur·e·ties
1. The condition of being sure, especially of oneself; self-assurance.
2. Something beyond doubt; a certainty.
3. A pledge or formal promise made to secure against loss, damage, or default; a security.
4. One who has contracted to be responsible for another, especially one who assumes responsibilities or debts in the event of another party's default.

[Middle English surte, from Old French, from Latin sēcūritās, from sēcūrus, sure; see secure.]

sur′e·ty·ship′ n.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

surety

(ˈʃʊətɪ; ˈʃʊərɪtɪ)
n, pl -ties
1. (Law) a person who assumes legal responsibility for the fulfilment of another's debt or obligation and himself becomes liable if the other defaults
2. (Law) security given against loss or damage or as a guarantee that an obligation will be met
3. obsolete the quality or condition of being sure
4. obsolete a means of assurance or safety
5. (Law) stand surety to act as a surety
[C14: from Old French seurte, from Latin sēcūritās security]
ˈsuretyˌship n
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

sur•e•ty

(ˈʃʊər ɪ ti, ˈʃʊər ti, ˈʃɜr-)

n., pl. -ties.
1. security against loss or damage or for the payment of a debt or fulfillment of an obligation; a pledge, guaranty, or bond.
2. a person who has made himself or herself responsible for another, as a sponsor or bondsman.
3. the state or quality of being sure; certainty.
4. something that makes sure; ground of confidence or safety.
5. a person legally responsible for the debts of another.
6. assurance, esp. self-assurance.
[1300–50; Middle English surte < Middle French; Old French seurte < Latin sēcūritātem, acc. of sēcūritās security]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.

surety

A person who agrees to take legal responsibility for someone else’s debts or obligations if that person defaults.
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.surety - something clearly established
sure thing, certainty, foregone conclusion - something that is certain; "his victory is a certainty"
2.surety - property that your creditor can claim in case you default on your obligation; "bankers are reluctant to lend without good security"
transferred possession, transferred property - a possession whose ownership changes or lapses
deposit - money given as security for an article acquired for temporary use; "his deposit was refunded when he returned the car"
earnest - something of value given by one person to another to bind a contract
recognisance, recognizance - (law) a security entered into before a court with a condition to perform some act required by law; on failure to perform that act a sum is forfeited
stock warrant, stock-purchase warrant, warrant - a type of security issued by a corporation (usually together with a bond or preferred stock) that gives the holder the right to purchase a certain amount of common stock at a stated price; "as a sweetener they offered warrants along with the fixed-income securities"
3.surety - a prisoner who is held by one party to insure that another party will meet specified termssurety - a prisoner who is held by one party to insure that another party will meet specified terms
captive, prisoner - a person who is confined; especially a prisoner of war
4.surety - one who provides a warrant or guarantee to another
sponsor, supporter, patron - someone who supports or champions something
5.surety - a guarantee that an obligation will be met
guarantee, warranty, warrantee, warrant - a written assurance that some product or service will be provided or will meet certain specifications
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.

surety

noun
2. guarantor, sponsor, hostage, bondsman, mortgagor I agreed to stand surety for Arthur to be bailed out.
Collins Thesaurus of the English Language – Complete and Unabridged 2nd Edition. 2002 © HarperCollins Publishers 1995, 2002

surety

noun
1. The fact or condition of being without doubt:
2. An assumption of responsibility, as one given by a manufacturer, for the quality, worth, or durability of a product:
3. One who assumes financial responsibility for another:
Informal: angel.
The American Heritage® Roget's Thesaurus. Copyright © 2013, 2014 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Translations

surety

[ˈʃʊərətɪ] N (= sum) → garantía f, fianza f, caución f; (= person) → fiador(a) m/f, garante mf
on his own surety of £500bajo su propia fianza de 500 libras
to go or stand surety for sbser fiador de algn, salir garante de algn
to take sth as suretyusar algo como fianza
Collins Spanish Dictionary - Complete and Unabridged 8th Edition 2005 © William Collins Sons & Co. Ltd. 1971, 1988 © HarperCollins Publishers 1992, 1993, 1996, 1997, 2000, 2003, 2005

surety

[ˈʃʊərəti] n (= guarantee) → caution f
to go surety for sb, to stand surety for sb → se porter caution pour qn
Collins English/French Electronic Resource. © HarperCollins Publishers 2005

surety

n
(= sum)Bürgschaft f, → Sicherheit f; (= person)Bürge m, → Bürgin f; to stand surety for somebodyfür jdn bürgen; he was granted bail with a surety of £5,000er wurde gegen Hinterlegung einer Kaution von £ 5.000 auf freien Fuß gesetzt
(obs, = certainty) → Sicherheit f, → Gewissheit f; of a suretygewiss, sicherlich
Collins German Dictionary – Complete and Unabridged 7th Edition 2005. © William Collins Sons & Co. Ltd. 1980 © HarperCollins Publishers 1991, 1997, 1999, 2004, 2005, 2007

surety

[ˈʃʊərətɪ] ncauzione f
to go or stand surety for sb → farsi garante per qn
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
References in periodicals archive ?
Some of the bond language is more akin to an indemnity bond or a penalty bond than a performance bond.
Basic types of bonds in general usage are: (1) individual bonds, covering a named individual in a stated penalty; (2) name schedule bonds, covering a number of named individuals in the respective amounts set opposite their names; (3) position schedule bonds, covering each of the occupants of positions listed in the schedule in the respective amounts set opposite such positions; and (4) blanket bonds, covering all of the insured's officers and employees with no schedule or list of those covered being necessary and with all new officers and employees becoming bonded automatically, in a blanket penalty that takes two forms, an aggregate penalty bond and a multiple penalty bond.
For example, exhibits of the Open Penalty Bond and U.S.