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Guarantee vs Suretyship

What are the distinctions between


Guarantee and Suretyship?
Guaranty is collateral while Surety is an
original promissory undertaking.
In guaranty, the guarantor is primarily
liable while in suretyship, the surety is
secondarily available.

The guarantor binds himself to pay if the principal cannot


pay. The surety undertakes to pay if the principal does not
pay.
The guarantor is the insurer of the solvency of the debtor.
The surety is the insurer of the debt.
The guarantor can avail of the benefit of excussion and
division in case the creditor proceeds against him. The
surety cannot avail of the benefit of excussion and division.

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