What does suretyship mean?
Definitions for suretyship
sure·ty·ship
This dictionary definitions page includes all the possible meanings, example usage and translations of the word suretyship.
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Wiktionary
suretyshipnoun
An accessory agreement through which a person binds themselves for another already bound, either in whole or in part, as for their debt, default or miscarriage; the assumption of liability for the obligations of another.
Wikipedia
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 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. The person or company providing the promise is also known as a "surety" or as a "guarantor".
Webster Dictionary
Suretyshipnoun
the state of being surety; the obligation of a person to answer for the debt, default, or miscarriage of another
Numerology
Chaldean Numerology
The numerical value of suretyship in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of suretyship in Pythagorean Numerology is: 7
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"suretyship." Definitions.net. STANDS4 LLC, 2024. Web. 9 May 2024. <https://www.definitions.net/definition/suretyship>.
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