What is the difference between a guarantee and an indemnity?

		In a guarantee, the third party is liable for the debt only if the debtor defaults while in an indemnity, both the third party and the debtor are equally liable for the debt.
		In a guarantee, the creditor can demand payment at any time while in an indemnity, the creditor must wait until after the debtor defaults.
		There is no difference. Both involve a third party being contractually liable for the debt of another.
		A guarantee is a written contract to pay the debt of another while an indemnity is an unenforceable oral promise.
		A guarantee involves a third party having primary obligation while an indemnity involves a third party having a conditional obligation.