Definicja surety

A guarantee, in India, that the excise department requires from some exporters when they apply for an excise bond. Whether or not a surety is required is at the discretion of the excise department.

A surety is in effect a promise by a third party to pay any debts to the excise department incurred as a result of the bond: In the event of an exporter failing to pay any excise duty owed, the excise department collects the excise from the third party.