Vocab Bloom Hub

surety bond

/ˈʃʊərəti bɒnd/

Traducción: Contrato legalmente vinculante entre tres partes (principal, beneficiario y fiador) que garantiza que el principal cumpla sus obligaciones con el beneficiario. Si el principal incumple, el fiador paga una compensación al beneficiario.

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phrase

/ˈʃʊərəti bɒnd/C1formallegal
  • esContrato legalmente vinculante entre tres partes (principal, beneficiario y fiador) que garantiza que el principal cumpla sus obligaciones con el beneficiario. Si el principal incumple, el fiador paga una compensación al beneficiario.

A legally binding contract between three parties (principal, obligee, and surety) that guarantees the principal will fulfill their obligations to the obligee. If the principal fails, the surety compensates the obligee.

  1. Financial guaranteeC1formal

    A legally binding contract that guarantees the performance or payment of an obligation by one party to another.

    esfianza de garantía

    • The contractor had to purchase a surety bond before starting the construction project.
    • A surety bond protects the client if the service provider fails to fulfill the contract.
    • The court required a surety bond as a condition for the defendant's release.