garantiisuhtumise
Garantiisuhtumise, often translated as "guarantee relationship" or "assurance relationship," refers to the dynamic between a party providing a guarantee and the party receiving it. This concept is primarily found in legal and contractual contexts, particularly in financial and commercial transactions. A guarantee is a promise by one party (the guarantor) to fulfill the obligations of another party (the principal debtor) to a third party (the beneficiary) if the principal debtor fails to do so. The garantiisuhtumise therefore encompasses the rights, obligations, and responsibilities of all parties involved in this tripartite arrangement.
The guarantor typically undertakes a secondary obligation, meaning they are only liable if the principal debtor