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surety
(redirected from suretyships)

   Also found in: Dictionary/thesaurus, Legal, Encyclopedia 0.01 sec.
Surety
An individual or corporation that guarantees the performance or actions of another.

Surety
A sum of money or the guarantee by a third party that a loan or credit extension will be paid. This reduces the risk the lender will lose the money he/she has distributed in the loan. For example, a third party may sign an agreement with the lender with the condition that if the borrower fails to repay the loan, the third party will assume legal liability for it. Often, persons with poor credit cannot receive a loan without surety. See also: Guarantee, Lien.

surety

One who guarantees the performance of another.Contrast with a simple guarantee,which is an agreement to pay money if another does not pay money due.A surety,on the other hand,may have to pay money or undertake the responsibility to complete a project.



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They also include reports specific to EU member nations, such as German's laws on family suretyships, Austrian responses to German developments, French and Belgian forms of protection, the fragmented approach of The Netherlands, the prophylactic and procedural approach of England, the caution of the Scots and the boldness of the Irish, searches for protection in Italy and Slovenia and affirmations of it in Portugal, and complications in Nordic countries.
Contingent liabilities Guarantees and suretyships 73 79 Other contingent liabilities 20 27 ---------------------------------------------------------------------- SAPPI LIMITED Regional Information Unaudited Quarter ended US$ million December December % change 2001 2000 ---------------------------------------------------------------------- Sales - Metric tons (000's) Fine Paper - North America 218 328 (33.
Contingent liabilities Guarantees and suretyships 79 80 Other contingent liabilities 27 46 ------------------------------------------------------------------ SAPPI LIMITED Regional Information Unaudited Quarter ended Sept.
 
 
 
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