Who puts their signature on a surety contract?
A creditor and a third party must come to terms on certain things before a deed of suretyship can be considered a legally binding arrangement. The essentials of this kind of agreement are that the surety (a third party) agrees to be liable to the creditor for the due performance by the debtor of his or her obligations in terms of the principal debt. In other words, the surety is responsible for ensuring that the debtor fulfills his or her obligations.