If you do decide to be a guarantor

Carefully read the contract of guarantee - the loan amount, interest rate, terms of loan repayments, as well as penalties for late payment of credit.  After that, a guarantee agreement must be signed on each page and a copy of the contract to take with you and keep up the implementation of the borrower of its obligations.

Know that it is your right - to refine and modify the terms of the contract (think of the joint and vicarious liability), to ask questions if you have any terms and conditions are questionable.

You need to systematically monitor the payment of the loan and interest a friend of the borrower before the final repayment of the loan.

Be aware that late payment may be assessed substantial fines and penalties, and if the amount is insufficient to repay the debt, the court may impose a penalty on the property as surety .

Know what the guarantee is terminated with the termination of the secured obligations, as well as in the case of a change of this obligation, entailing an increase liability or other adverse consequences for the guarantor, without the consent of the latter (st.367 Civil Code).

Surety shall be terminated with a transfer to another person on the debt secured by the surety obligation, if the guarantor has not given consent to the creditor responsible for the new debtor (st.367 Civil Code). Surety shall be terminated upon expiration of the contract of guarantee period for which it is given. If no time is set, it stops, if the creditor within one year from the date of the date for performance of the secured obligations of the surety fails to present a claim against the surety. When the period of performance of the principal obligation is not specified and can not be defined or determined by the time of demand, guarantee is terminated, if the creditor does not submit a claim to the surety within two years from the date of the contract of guarantee (st.367 Civil Code). Know that the surety, discharged the obligation of creditor's rights under this obligation and the rights that belonged to the lender as the mortgagee, to the extent to which the guarantor has satisfied the creditor. The surety may also require the debtor to pay interest on the amount paid by the lender, and compensation for other losses (st.365 Civil Code).  In a word, before taking on responsibility and become a guarantor, you must carefully consider this very important step, otherwise - can guarantee to bring a lot of trouble , many lawsuits and other adverse consequences for the guarantor.