/ˈʃʊərətɪʃɪp/ – noun
Definition: việc bảo lãnh.
A more throughout explanation: Suretyship is a legal relationship in which a person (the surety) agrees to be responsible for the debt or obligation of another person (the principal debtor) in the event that the principal debtor fails to fulfill their obligations. The surety guarantees the performance of the principal debtor’s obligations to a third party (the creditor) and agrees to be liable for the debt or obligation if the principal debtor defaults.
Example: The suretyship agreement required John to guarantee the repayment of the loan if the borrower defaulted.