Section Code: 0698 - 0701
Thai Civil and Commercial Code
Chapter 4: Extinction of Suretyship
Section 698 Discharge of Surety
The surety is discharged as soon as the obligation of the debtor is extinguished by any cause whatsoever.
Section 699 Transactions without Limit can be terminated with notice
The suretyship for a series of transactions without limit or time in favour of the creditor can be terminated by the surety for the future by giving notice to the creditor to that effect.
In such case the surety is not liable for transactions done by the debtor after the notice has reached the creditor.
Section 700 Definite Time for Obligation
If suretyship has been given for an obligation which is to be performed at a definite time, and the creditor grants to the debtor an extension time, the surety is discharged.
The surety is not discharged if he agreed to the extension of time.
Section 701 Performance when Due
The surety may tender performance of the obligation to the creditor from the time when performance is due.
If the creditor refuses to accept performance, the surety is discharged.