It corresponds to the synonym of what is known as a payment or guarantee, as it represents the one that is delivered, either money or an object of value, in advance to guarantee the fulfillment of a payment or obligation acquired, this with the aim of generating trust and demonstrate commitment to the cause.
Without a valid obligation, the surety cannot exist. In this sense, a surety has validity and existence requirements. Also, reasons for which it can be extinguished, where the deposit is returned.
The term takes different uses and meanings, according to the area or science in which it is present, which is considered as "types of bonds".
First, there is the conventional surety, also known as a personal guarantee, which is part of a surety contract granted by mutual agreement between the guarantor and the creditor. In it, the guarantor guarantees to the creditor the fulfillment of the obligation that the debtor has, committing to comply, in the event that the debtor cannot do it himself. This type of bond, in turn, is subdivided into several types, such as: advance payment, compliance, good quality, compliance, among others.
This bond is regulated by civil law, which states that the relationship between the guarantor and the creditor is made through the debtor. In the same way, it specifies that the debtor and the guarantor are different people, bound by the surety contract.
On the other hand, there is the commercial bond, which is granted by an authorized institution and is regulated by the tax authority, in an onerous way.
Also, there is the legal bond, which is imposed by law in order to ensure the fulfillment of an obligation.
Finally, there is the judicial bond, granted by means of a judicial resolution.
There are those who express that the legal and judicial surety are not possible to distinguish. However, it is clarified that all judicial surety is therefore legal, but not every legal surety is judicial.
It should be noted that a bond can be free or onerous, where the guarantor does not receive any remuneration and in the other yes, respectively.
It is considered that the antecedent of what the bond currently represents is in the civil bond, thus constituting the basis for all types of bonds.
