The difference between a surety bond and a guarantee is that:

	A surety bond is issued by an insurance company and guarantees performance of the exporter while a guarantee is issued by a bank and compensates the importer in the event an exporter defaults on their contractual obligation
	A surety bond is issued by a bank and guarantees performance of the exporter while a guarantee is issued by an insurance company and compensates the importer in the event an exporter defaults on their contractual obligation
	A surety bond is issued by an insurance company and compensates the importer in the event an exporter defaults on their contractual obligation while a guarantee is issued by a bank and guarantees performance of the exporter
	None of the above