Noun
(law) 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.
(law) 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.
Source: en.wiktionary.orgHave a surety bond in place (also known as a notary bond, a surety bond is needed to protect consumers from financial or legal harm if you make a mistake as a notary. Source: Internet
He remains in custody at the Sweetwater County Detention Center in lieu of a $25,000 cash or surety bond. Source: Internet
He was freed the same day on a $20,000 cash or surety bond. Source: Internet
The only amendment of Seaton’s to make the bill requires companies engaged in exploration or development to file a $250,000 surety bond with the state to cover its unsecured creditors. Source: Internet