surety bond - Meaning in Malayalam
surety bond - Meaning in Malayalam
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Definitions and Meaning of surety bond in English
surety bond noun
- 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
Synonyms
performance bond
Description
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 surety or guarantor to pay one party a certain amount if a second party 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. The person or company providing the promise is also known as a "surety" or as a "guarantor".
Also see "Surety" on WikipediaAlso See
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Sentences with the word surety
What is surety bond meaning in Malayalam?
The word or phrase surety bond refers to 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. See surety bond meaning in Malayalam, surety bond definition, translation and meaning of surety bond in Malayalam. Find surety bond similar words, surety bond synonyms. Learn and practice the pronunciation of surety bond. Find the answer of what is the meaning of surety bond in Malayalam.
Other languages: surety bond meaning in Hindi
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What is surety bond meaning in Malayalam, surety bond translation in Malayalam, surety bond definition, pronunciations and examples of surety bond in Malayalam.
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