The best replacement for surety bond is letter of credit.

The best alternatives to surety bond are rated as following:
★★★★★  letter of credit
★★★★  performance bond
★★★  fidelity bond
★★  cash bond
★  bank guarantee
★  trust fund
★  security deposit
★  indemnity bond
  bid bond
  sr22
  irrevocable letter of credit

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surety bond
letter of credit
performance bond