noun ·Rare ·Advanced level

Definitions

Noun

1. 1
   A contractor's bond, guaranteeing that the contractor will perform the contract and providing that, in the event of default, the surety may complete the contract or pay damages up to the bond limit.
2. 2
   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 wordnet

Synonyms

All synonyms

surety bond