Also known as surety bond, guaranty, guarantee, suretyship
In finance, a surety , surety bond, or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a person or company (a surety or guarantor) to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation.
Wikidata facts
- Subclass of
- contract
- Has part
- guarantor
- Has use
- banking system
Show 3 more facts
- described by source
- Pauly–Wissowa
- partially coincident with
- guarantee
- Commons category
- Surety
Sources (2)
via Wikidata · CC0
Article · 日本語
保証（ほしょう）とは、主たる債務者がその債務を履行しないときに、その履行をする責任を負う債務（446条1条）。 * 民法について、以下では条数のみ記載する。
Abstract from DBpedia / Wikipedia · CC BY-SA