cautioners

Cautioners are individuals or entities that undertake to secure the obligations of another person under a formal document called a bond of caution in Scots law. A cautioner acts as a guarantor or surety, pledging to fulfill the principal's obligations if the principal fails to do so. The arrangement is typically used to secure debts, the performance of contractual duties, or compliance with a court or official undertaking. Liability of the cautioner is usually limited to the amount and the period stated in the document, and may be joint and several if multiple cautioners are involved. The cautioner may be required to demonstrate sufficient means or security to cover the obligation, and, in practice, lenders or authorities assess the risk before accepting a caution.

The term derives from caution meaning security, and cautioners were a common feature in medieval and early modern Scottish legal and commercial practice. In modern usage, cautions appear in bonds of caution, bail undertakings in court processes, and in some lease or hire agreements, though the exact form and consequences vary by statute or contract. Contemporary practice sees cautioners most often in specialized or historical contexts, rather than routine private transactions.

Relation to other concepts: A cautioner contrasts with the principal debtor; if the principal complies, the cautioner's liability may be discharged. If the principal defaults, the cautioner may face enforcement actions to satisfy the obligation and may pursue subrogation or recourse against the principal's assets.