surety bond

Meaning

1. 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.
2. 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.

Synonyms

performance bond

indemnity bond

Translations

garantia de bon fi

garantia de compliment

cautionnement

fideiussione

garantia

garantía del cumplimiento