What is Collateral Assurance?

Legal Definition
Of non-legal obligations, collateral assurance is a bond made over and beyond the deed itself, for the performance of an agreement, or covenant, made between two individuals; so called, for being external, and without the nature and essence of a covenant. A collateral assurance is separate but subservient to the principal contract. It usually allows for damages to be paid when the assurance is broken without allowing the principal agreement to be voided. Warranties are examples of this sort of assurance.
-- Wikipedia
Legal Definition
Contracts. That which is made over and above the deed itself.
-- Bouviers Law Dictionary
Legal Definition
That which is made over and above the principal assurance or deed itself.
-- Black's Law Dictionary
Legal Definition
Assurance given over and aside from the deed.
-- Ballentine's Law Dictionary