Surety is a legal concept that involves a promise made by one party to take responsibility for the debt or obligation of another party. This often occurs in financial agreements, where a surety bond is used to guarantee that a borrower will fulfill their obligations. If the borrower fails to do so, the surety is responsible for covering the loss. In many cases, surety is used in construction projects, where a contractor may need a surety bond to ensure that they will complete the work as agreed. This protects the project owner and helps maintain trust in business transactions.