In the United States, but not apparently elsewhere, there is a distinction between a surety and a guarantor. A surety is usually bound with the principal, at the same time and on the same consideration, while the contract of a guarantor is his own separate undertaking and the guarantor is not liable until due diligence has been exerted to compel the principal debtor to make good any default. There is no privity of contract between a surety and the principal debtor. Rather, the surety contracts with the creditor and is not jointly liable to the creditor.