The bail and its differences with the endorsement.

Next, we will explain what the bail is and its differences with a endorsement.

The bail is a personal guarantee, the purpose of which is to guarantee with the totality of the assets of the guarantor the performance of the obligation borne by a person other than the principal debtor, in the event that it fails to provide the services it has assumed in favour of the creditor.

Bail is generally a one-sided, free-of-charge legal business. However, the parties may agree on a consideration for the provision of the guarantee.

This guarantee may be granted in favour of future debts and the guarantor may also be obliged to pay an amount in money if the principal obligor does not lend or perform a certain thing or fact.

DIFFERENCES WITH THE ENDORSEMENT.

1.- It is a legal business that guarantees any kind of obligation, even that derived from a security-value (example a promissory note), however, the obligation of the guarantee being a guarantee of debts derived from a security-value, must be included in this.

2.- The bail is not presumed, however, the obligation of the guarantee if it can be presumed when the signature of a person appears in a title-value (example an promissory note) even if the quality in which the signature is not indicated, it is understood that it was put just as collateral.

3.- The guarantor enjoys the benefits of order and excusion, that is to say, first the principal obligor will be required and if he does not comply with his obligation in full or in part, then, when the guarantor is required, however, the guarantor is an autonomous obligor, to whom the direct obligation may be imposed, without the need to resort to the guarantee in advance. Therefore, it lacks the benefits of order and excusion.

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