Difference between Guarantee and Indemnity

Contract of Guarantee has existence of two contracts. Indemnity is only one contract.

Contract of Guarantee has three parties. Indemnity contract has only two parties.

Liability of Guarantor is co-existence whereas liability of indemnifier is primary.

Guarantor has the right of subrogation.

Contract of Guarantee can be implied like in case of Endorsement.

Contract of Guarantee has always consideration