surety
🇺🇸
/ˈʃʊrəti/
🇬🇧
/ˈʃʊərəti/
Promise of payment made by giving money to ensure responsibilities such as debts or legal appearances are met.
They put down some money as surety for the new house.
A person who promises to pay a debt or perform an obligation if the person originally responsible fails to do so.
My aunt acted as a surety for my car loan.