Under a contract of suretyship, the surety shall undertake an obligation with respect to the creditor of another person to bear liability for the full or partial fulfillment of obligation by that person.
Contract of suretyship may be signed also for securing an obligation arising in the future.
In case of failure to fulfill or improper fulfillment by a debtor of an obligation secured by suretyship, the surety and the debtor shall bear joint and several liability against the creditor, unless subsidiary liability of the surety is envisaged by law or the suretyship contract.
The surety shall bear liability against the debtor to the same extent as the debtor, including payment of interests, court expenses connected to levying the debt in execution, compensation for other damages of the creditor incurred as a consequence of failure to fulfill or improper fulfillment of obligation by the debtor, unless otherwise provided for by the suretyship contract.
Persons having assumed joint suretyship shall jointly bear liability against the creditor, unless otherwise provided for by the suretyship contract.
