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Are the terms "release" and "discharge" synonyms in your deed of release of guarantee? Do you need to both "cancel" and "surrender"? What does "delivery up" mean?

Clause 2.1(a) of this deed uses 'release and discharge'. Are these words used as synonyms here? I understand that there is technically a difference between releasing a guarantor from their liabilities and discharging the guarantee. But the guarantee is 'cancelled' in clause 2.1(b) so do you need to also 'discharge' the guarantor? Also in clause 2.1(b) do you need both 'cancel' and 'surrender'? Are these mutually exclusive? Is' termination' of the guarantee a better replacement for both these words? Do you also need to 'deliver up' the guarantee? Please could you explain the technical effect of this phrase?
Anonymous (Private Practice)

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