1. 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; [syn: performance bond, surety bond]
WordNet (r) 3.0 (2006):
surety bond
n 1: 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 [syn: performance
bond, surety bond]