In its pure sense, a demand or on-demand guarantee may be called by the beneficiary by making a demand on the guarantor and without any proof of default by the borrower.  In contrast, a conditional guarantee requires further conditions to be met before payment by the guarantor, which could include obtaining full and final judgement of default, acceleration or realisation of the security.  GuarantCo can provide either but it is recognised that in the majority of cases, an on-demand guarantee will be required.  For an on-demand guarantee, GuarantCo will require a waiting period before payment and the ability to inform the borrower that a claim has been made under the guarantee.