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Cosuretyship
Translation of "cosuretyship" into Russian
cosuretyship
Noun
UK
/kəʊˈʃʊərɪtɪʃɪp/
US
/koʊˈʃʊrɪtɪʃɪp/
cosuretyship
cosuretyships pl
The cosuretyship agreement was signed by all parties involved.
Соглашение о сосолидарности было подписано всеми участвующими сторонами.
Definitions
cosuretyship
Noun
UK
/kəʊˈʃʊərɪtɪʃɪp/
US
/koʊˈʃʊrɪtɪʃɪp/
The state or condition of being a cosurety, where two or more parties jointly assume the responsibility of guaranteeing the performance or obligations of a third party.
In the event of default, the cosuretyship agreement required both parties to equally share the financial burden.
An instance or arrangement in which two or more sureties jointly guarantee the same debt or obligation.
The lender demanded a cosuretyship to back the startup’s line of credit.