A person who signs an indemnity agreement may have to pay the debt even before the primary debtor is asked to repay the debt.

Name: A person who signs an indemnity agreement may have to pay the debt even before the primary debtor is asked to repay the debt.
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Question

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An indemnity agreement can require the indemnifier to cover the debt or loss immediately upon default, without the creditor first pursuing the primary debtor.

A Person Who Signs an Indemnity Agreement May Have to Pay