Professional Documents
Culture Documents
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between the indemnifier and the 3. There are three separate contracts
indemnified. which are as follows_
a. Creditor with the Principal debtor.
b. Surety with the Creditor
c. Principal debtor with the Surety.
4. Liability of the Indemnifier is 4. Liability of the Surety is secondary
primary and independent no while liability of the Principal debtor
secondary liability. is Primary.
5. The aim or goal is to reimburse 5. It provides a surety to the creditor.
the loss if any to the indemnified.
Thus the aim is to provide security.
6. Indemnifier acts independently 6. The surety acts at the request of
without any request of the Principal debtor.
indemnified. 7. There is existing debt or liability.
7. The liability of the indemnifier The performance of which is
comes into existence on the guaranteed by the surety.
happening of the contingency 8. Surety can sue the principal debtor
namely loss to the promisee. in his own name.
8. Indemnifier cannot sue a third
party for any loss in his own name.
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