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LSDefine

Simple English definitions for legal terms

commercial surety

Read a random definition: meaning

A quick definition of commercial surety:

A commercial surety is a person who promises to pay someone else's debt or do something they promised to do. They are different from an insurance company because they don't get paid for taking on this responsibility. They are also different from a guarantor because they are directly responsible for paying the debt or doing the promised task. It's important to know the difference between a surety and a guarantor because they are not the same thing.

A more thorough explanation:

A commercial surety is a type of surety that is compensated for assuming liability for the payment of another's debt or the performance of another's obligation. A surety is different from an insurer because they often receive no compensation for assuming liability.

For example, if a construction company needs to obtain a bond to guarantee their work, they may use a commercial surety to provide the bond. The commercial surety would assume liability for the bond and would be compensated for their services.

Another example would be a landlord requiring a tenant to provide a security deposit. The tenant may use a commercial surety to provide the deposit, and the commercial surety would assume liability for the deposit if the tenant fails to meet their obligations.

These examples illustrate how a commercial surety can provide financial security for businesses and individuals by assuming liability for their obligations.

commercial signature | commercial-traveler rule

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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