According to the provisions of the guarantee law, the third party and the creditor agreed that when the debtor fails to perform the debt, the guarantor will perform the debt or assume the responsibility as agreed. The third party here is the guarantor, including legal persons, other organizations or citizens who have the ability to pay off debts on their behalf, and the creditors here are both creditors of the principal debt. Here-performing the debt or taking responsibility according to the agreement-is called guarantee debt, and some people call it guarantee responsibility.