The claims of the bank

3. Surety - a contract with unilateral obligations on which the guarantor undertakes to pay the creditor bank if necessary debt the borrower. The interim bail function is manifested in the fact that the lender in case of default by the debtor is entitled to raise his claim as to the debtor and the surety. In the event of default by the debtor and the surety liable to the lender as joint and several debtors, unless otherwise stipulated by the contract of suretyship. Category: Management Operations Commercial Bank