Guarantee Insurance

Brief overview on the processing of personal data

General Insurance Terms and Conditions for Guarantee Insurance
VPPZAR-P-01/2018

7138 10/2018 EN
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Page

Brief overview on the processing of personal data 3

General Insurance Terms and Conditions for Guarantee Insurance VPPZAR-P-01/2018 5

Article 1 Introductory Provisions 5

Article 2 Commencement, Duration, and Termination of the Insurance 5
Article 3 Exclusions from Insurance 5
Article 4 Premium 5
Article 5 Insurable Risk, Types of Guarantees, Insured Event 5
Article 6 Insured, Beneficiary 5
Article 7 Insurance Benefit 5
Article 8 Limit of Insurance Benefits, Insurance Claim Limits 6
Article 9 Security 6
Article 10 Salvage Costs 6
Article 11 Obligations Arising from the Insurance 6
Article 12 Right of the Insurance Company to Compensation for Provided Insurance Benefits 7
Article 13 Forms of Legal Acts and Communications 7
Article 14 Delivery 7
Article 15 Release from the duty of confidentiality, authorization 7
Article 16 Interpretation of Terms 7
7138 10/2018 EN Brief overview on the processing of personal data | 3

Brief overview on the processing of personal data

We take the liberty of briefly informing you about the processing of your personal data by our company. Further details are available
at www.ceskapojistovna.cz in the Personal Data section, or we will be happy to disclose them upon request at all of our points of sale.

Who is the controller of your Which data do we process about

data? you?
The controller of your personal data is Česká pojišťov- We process the following personal data:
na a.s., Company ID No. 45272956, registered office at – Your identification and contact data (email address
Spálená 75/16, Nové Město, 110 00 Prague 1. and phone number are not mandatory; but if you do
provide these then our communication will be faster
and more efficient),
In which situations will we process your – information about the products you are utilizing,
– data from our mutual communication (in person,
data? written, by phone and other),
Preparation and conclusion of the contract – sociodemographic data (e.g., age, job),
The provision of data is entirely voluntary, but if you do not give – payment data (e.g., data about paid or outstanding
us the data needed to conclude insurance, we will not be able to premiums, account number, etc.),
prepare an offer of insurance or conclude the insurance contract – information about solvency, financial standings and
(or amendment) with you. credibility,
In order to prepare the draft insurance contract and its actual – other specific data needed to establish the agreed
conclusion, we necessarily need to know your identification data product.
in the scope of your name, surname, personal number (date
of birth) and address of residence, and in the case of a natural
person - entrepreneur the identification number, if assigned.
We may also ask you to provide other necessary data based on the character of the product your require, e.g. data about the
insured property or relations, occupation, income, risky behaviour, sports you partake in, expertise and experience in the area
of investment, etc. If you signed the insurance contract using biometric technology, we will process your signature by means of
automatic biometric recognition technology, in which the dynamic parameters of hand movements are recorded as an integral
part of the graphic signature.

Fulfilment of the contract

The processing of personal data is also required for the proper management of insurance contracts, including their change,
insurance event settlement, provision of assistance services and our communication. Other data we process depend on the
products you use and the personal data you provided or which we discovered e.g. during the settlement of an insured event.

Meeting of legal obligations

Many legal regulations impose an obligation on us to process your personal data (to varying degrees). For instance, we need
your data to fulfil the obligations imposed on us by regulations concerning insurance distribution and insurance, and regulations
concerning measures against the legalisation of proceeds from crime and the financing of terrorism. We are also obliged to
provide cooperation to courts, prosecuting authorities, tax administrators, the Czech National Bank as the overseeing authority,
executors, etc.

Protection of our legitimate interests or the legitimate interests of third parties

We can also process data due to our justified interests, such as in the following cases:
– risk evaluation and management,
– quality management of provided services and customer relations,
– preparation of a non-binding offer or calculation of insurance premiums, if a contract is not concluded afterwards.
– preparation, conclusion and fulfilment of contracts in your favor,
– reinsurance and co-insurance,
– internal administrative purposes (e.g. internal records, reporting),
– to protect our legal claims (e.g. during recovery of owed insurance premiums or other receivables, and within court proceedings
or proceedings before the authorities for out-of-court resolution of disputes, before the Czech National Bank or other public
authorities),
– the prevention and detection of insurance fraud and other illegal conduct,
– direct marketing (your contact and identification data, specifically name, surname, address, phone number and email address
may also be processed for direct marketing of our company, i.e., for sending offers of our products of services, including by
email and SMS).
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Who is the recipient of the personal data?

In justified cases and strictly in the necessary scope, we provide your personal data to the following categories of recipients:
– reinsurers,
– other insurance companies in compliance with the law for the purpose of preventing and detecting insurance fraud and other
illegal conduct, also via the system established for this purpose, or in the case of agreed co-insurance pursuant to Section 2817
of the Civil Code,
– to our contractual partners (within the Generali group or outside of it), e.g. our distributors, assistance service providers,
independent claims adjusters, physicians, experts, contractual workshops, information technology suppliers, postal services
providers, call centres,
– other entities in cases when the provision of your data is imposed by legal regulations or when it is necessary to protect our
justified interests (e.g. courts, executors, etc.),
– in limited scope to the shareholder within the framework of reporting.

How long will your data be stored?

If we processed data for the purpose of an insurance offer, but the insurance contract was not concluded, we will store the data
for the period of at least one year from our last communication and for the term of the statute of limitations, during which any
claim arising from this communication may be applied. If the insurance is concluded, we process your personal data for the term
of the insurance contract. Upon termination of the contractual relationship, we shall store your personal data for the term of the
statute of limitations, during which any claim from the terminated contract can be applied, and additionally for the term of one
year after the vain passing of the statute of limitations of any claim. Additionally, we also process your personal data in the case
of continued or repeated financial performance from the concluded contract (e.g. annuity) and for the term of potential court
disputes and other proceedings.

What are your rights?

You have the right in particular to access the personal data we process about you, the right to correct inaccurate or incomplete
data and the right to submit a complaint to the Personal Data Protection Office, Pplk. Sochora 27, Prague 7, 170 00, www.uoou.cz.
In situations foreseen by legislation, you also have the right to the deletion of your personal data concerning you, or the limitation
of their processing; you also have the right to transferability of your data and the right to raise an objection against data
processing.
You have the right, at any time and date free of charge, to raise an objection to the processing of your personal which we
performed due to our justified interests, including profiling, and the right to object to processing for the purpose of direct
marketing including profiling.

How can you contact our Data Protection Officer?

You may contact our Data Protection Officer with your requests, inquiries or complaints at the address: Česká pojišťovna a.s.,
oddělení řízení ochrany osobních údajů, Na Pankráci 1720/123, Prague 4, 140 00, dpo@ceskapojistovna.cz.

GENERAL INSURANCE TERMS AND CONDITIONS FOR GUARANTEE INSURANCE
VPPZAR-P-01/2018
ARTICLE 1 Introductory Provisions
1 Česká pojišťovna a.s., registered office Spálená 75/16, Nové Město, 110 00
Prague 1, The Czech Republic, Company identification No. 45272956, Tax
identification No. CZ 699001273, registered in the Commercial Register,
Municipal Court in Prague, File reference B 1464 (hereinafter referred to
as the „Insurance Company“), provides insurance in accordance with Act
No. 277/2009 Coll., as amended. These General Insurance Terms and Condi-
tions for Guarantee Insurance VPPZAR-P-01/2018 (hereinafter referred to as
„VPPZAR-P“) govern the conditions of guarantee insurance losses and are
effective from 1 May 2018.
2 The rights and obligations related to the insurance are governed by legislation
of the Czech Republic, particularly by Act No. 89/2012 Sb., the Civil Code as
amended (hereinafter referred to as „the Code“), particularly by provisions
§ 2758-2872, these VPPZAR-P conditions, the schedule of fees and the insu-
rance contract.
3 Provisions of the insurance contract deviating from the Code or these VPPZA-
R-P take precedence.
4 The guarantee insurance (hereinafter referred to as the „Insurance“) is a priva-
te insurance and is arranged as indemnity insurance.
5 In case of non-life insurance, customers have the option to resolve the dispute
out of court through The Czech Trade Inspection Authority (CTIA) www.coi.cz.
ARTICLE 2 Commencement, Duration, and Termination of the Insurance
1 The Insurance shall commence on the date set out in the Insurance Contract,
provided that the premium or its first instalment, or guarantee (if arranged),
has been paid.
2 The Insurance is arranged for a fixed period of time as specified in the Insuran-
ce Contract (period of insurance).
3 In addition to the reasons specified in the Code, the Insurance shall terminate
on the date on which:
a the Insurance Company receives the Beneficiary‘s statement on the proper
fulfilment of all contractual obligations on the part of the Insured, or
b the Insurance Company receives the Beneficiary‘s statement that the In-
surance Company‘s obligations arising from the guarantee certificate have
expired, or
c the Beneficiary has granted written consent to the contents of the agree-
ment between the Insurance Company and the Policyholder, or
d the Beneficiary has returned the original guarantee certificate, or
e the amount of the insurance benefit provided has reached the limit arran-
ged in the Insurance Policy.
4 Other methods of termination of the Insurance may be arranged in the Insu-
rance Policy.
5 The Insurance cannot be suspended.
6 If the original guarantee certificate or guarantee contract (policy) is not retur-
ned along with the notice of termination of the Insurance or with the Policy-
holder‘s notice of withdrawal, the notice shall be deemed to be ineffective.
7 With the exception of the cases stipulated in clause 6 of this Article, the termi-
nation of the Insurance for the reasons specified in the Code shall be without
prejudice to the rights arising from an already issued guarantee certificate.
ARTICLE 3 Exclusions from Insurance
1The Insurance shall not cover the Beneficiary‘s damages resulting from:
a war events, uprising rebellion or other violent mass disturbance, strikes,
lock-outs, terrorist acts (i. e. violent actions of political, social, ideological,
racil, national or religious motivation), or due to interventions imposed by
government or other official authorities
b nuclear energy, nuclear radiation, nuclear contamination, asbestos or for-
maldehyde
c force majeure events, such as a natural disaster.
2 The right to indemnity from insurance does not arise if it would put the in-
surance company in conflict with sanctions, bans or restictions imposed by
UN resolutions, trading or economic sanctions, laws or regulations of the Eu-
ropean Union or the United States of America (USA), with the International
Sanctions Act No. 69/2006 Sb., as amended or with a generally binding legal
regulation replacing the Act.
General Insurance Terms and Conditions for Guarantee Insurance VPPZAR-P-01/2018
7138 10/2018 EN
3 The Insurance shall not give rise to any right to an insurance benefit if after
the inception of the Insurance, there has been a change in the parties to the
contract entered into between the Insured and the Beneficiary (hereinafter
referred to as the „Contract“), defined in the Insurance Policy, or a change in
the Insured‘s liability (debt) arising from the Contract, without prior written
consent of the Insurance Company to such changes.
ARTICLE 4 Premium
1 The premium is to be paid as a single payment.
2 It may be agreed in the insurance contract that premium is to be paid in instal-
ments by the insured.
3 The Insurance Company is entitled to the whole amount of premium for the
period for which the insurance has been arranged.
4 If the policyholder is to pay outstanding premiums, fees and accessories to
outstanding premiums, any payment by the policyholder will be first used for
the outstanding premium in such a manner that the premium, or premium
instalment with the earliest due date will be settled first, then fees according
to their due dates, then costs of outstanding premium recovery and finally late
payment interest. There is no interest imposed on fees, costs of outstanding
premium recovery and late payment interest.
5 Premium is considered to be paid at the moment when it is cradited to the
account of the insurance company.
ARTICLE 5 Insurable Risk, Types of Guarantees, Insured Event
1 The Insurance shall be arranged against the Insured‘s failure to meet a liability
(debt) arising from the Contract or from special legislation.
2 Following execution of the Insurance Policy, payment of the premium and pay-
ment of a security (if required), the Insurance Company shall issue a guarantee
certificate or a guarantee contract (policy).
3 Pursuant to these VPPZAR-P conditions, it is possible to arrange:
a insurance for the following types of financial guarantees:
a.a advance payment bond;
a.b bid bond;
a.c performance bond;
a.d retention bond;
a.e maintenance bond;
a.f customs guarantee;
a.g excise tax guarantee;
b insurance of the carrier‘s financial eligibility;
c insurance of guarantee for another reason specified in the Insurance Policy.
4 The insured event shall refer to the occurrence of the Beneficiary‘s loss due
to the Insured‘s failure to meet their liability (debt) arising from the Contract
or special legislation, provided that the loss occurs during the period of the
Insurance and is not caused by circumstances set out in Article 3 of these
VPPZAR-P conditions and if the right to an insurance benefit is exercised
within the terms and in the manners set out in Article 7 of these VPPZAR-P
conditions.
ARTICLE 6 Insured, Beneficiary
1 The Insured shall refer to a person for whom the Insurance Company provides
a guarantee specified in detail in the Insurance Policy.
2 The Beneficiary shall refer to a person that becomes entitled to an insurance
benefit due to an insured event.
ARTICLE 7 Insurance Benefit
1 The Insurance Company shall not initiate an investigation and the Beneficiary
shall not be entitled to an insurance benefit if the claim is not made within the
terms and in the manners set out in clauses 2 and 3 of this Article.
2 The claim for an insurance benefit shall be exercised in writing and shall de-
signate the Beneficiary, identify the guarantee period and the Contract or the
guarantee contract (policy), describe the failure to meet the Contract, deter-
mine the nature, place and time of occurrence of the loss and the requirement
for its compensation.
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3 The exercised claim for an insurance benefit shall be delivered to the Insurance
Company:
a by the time set in special legislation, specified in the Insurance Policy, or in
case of a guarantee for the fulfilment of obligations arising from special
legislation;
b prior to the date of termination of the Insurance, in case of other guarante-
es and insurance of the carrier‘s financial eligibility.
4 The Insurance Company shall provide the insurance benefit in monetary terms.
5 If the Insurance Policy and the issued guarantee certificate specify that the
provision of the insurance benefit by the Insurance Company is conditional
upon the presentation of a specific document, the document shall be submi-
tted at the Insurance Company‘s request or afterwards without undue delay,
but always during the period of the Insurance.
ARTICLE 8 Upper limit of indemnity, limits and sublimits of indemnity
1 The upper limit of indemnity is the limit of indemnity. The limit of indemnity is
agreed in the insurance contract based on the policyholder’s proposal.
2 With each provided insurance benefit, the insurance claim limit shall be redu-
ced by the amount paid.
3 The total insurance benefits from all insured events occurring during the peri-
od of the Insurance shall not exceed the insurance claim limit arranged in the
Insurance Policy.
ARTICLE 9 Security
1 If arranged in the Insurance Policy, the Policyholder shall deposit a security into
the Insurance Company‘s account to the agreed amount and within the agreed
period of time. The security shall be deposited in the Insurance Company‘s
account for the entire period of the Insurance. The security shall be considered
to be paid at the time it is credited to the Insurance Company‘s account.
2 The Insurance Company shall preferably use the deposited security, including
retained revenues, to provide the insurance benefit to the Beneficiary.
3 If, during the period of the Insurance, the security falls below the limit set out
in the Insurance Policy, the Policyholder shall replenish it to the agreed limit
no later than within 1 month of the date on which they receive the Insurance
Company‘s notice that the limit has been breached.
4 If the Insurance expires and no insured event occurs during the period of the
Insurance, the Insurance Company shall return to the Policyholder‘s account
the unused part of the security, including retained revenues, no later than
within 30 days of the expiry of the Insurance.
5 If the Insurance expires after an insured event, the Insurance Company shall
return the remaining part of the unused security, including retained revenues,
to the Policyholder‘s account within 30 days of the provision of the insurance
benefit to all Beneficiaries who have claimed their right to an insurance benefit
within the specified term.
ARTICLE 10 Salvage Costs
1 Beyond the arranged insurance claim limit, the Insurance Company shall reim-
burse all reasonably incurred salvage costs specified in the Code which the Po-
licyholder, the Insured or the Beneficiary incurs to avert an imminent insured
event or to mitigate the consequences of an insured event, up to the amount
of CZK 10,000.
2 If the Policyholder, the Insured or the Beneficiary suffers from any damages in
connection with the payment of salvage costs, the Insurance Company shall
provide a reimbursement for this damage up to the amount of CZK 10,000.
3 The insurance company is obliged to reimburse costs spent with its consent
in full.
ARTICLE 11 Obligations Arising from the Insurance
1 The Policyholder, the Insured or the Beneficiary:
a is obliged to inform and prove to the insurance company without undue
delay any changes to the facts provided when arranging the insurance that
may occur within the period of insurance;
b is obliged to enable the insurance company to check any documents nece-
ssary for premium calculation and inspection is required by the insurance
company;
after a loss event:
c is obliged, if a loss event has already occurred, to take necessary measures
to mitigate its consenquences and if possible ask the insurance company
for instructions and act in accordance with them;
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d is obliged to inform the insurance company that a loss event their occured
without undue delay after the moment of discovery of the loss event;
e is obliged to provide an official translation of any documents needed for
investigation of the loss event at their own expense, if so required by the
insurance company;
f is obliged to provide without undue delay true explanations of the causes
and extent of damage;
g is obliged to inform the insurance company without undue delay that cri-
minal or administrative proceedings in connection with the loss event have
commenced against the insured or their employee, disclose the name and
address of his counsel and inform the insurance company about the pro-
gress and results of the proceedings;
h is obliged to secure against another person the rights transferred to the
insurance company, particularly the right to compensation for damage or
harm as well as the right to subrogation and settlement;
i is obliged to inform the police without undue delay if there is a suspicion of
a criminal act or attempted criminal act in connection with the loss event;
j is obliged to fulfil further obligations imposed by law, special legislation or
the Insurance contract.
2 The Policyholder or the Insured shall:
a submit to the Insurance Company or persons authorized by it all docu-
ments relating to the management and the financial situation of the Insu-
red and, if necessary, other documents and data requested by the Insurance
Company, and allow a check of management records during the period of
the Insurance in the form of an inspection of the accounts and accounting
statements or access to the premises;
b notify the Insurance Company without undue delay of any change in the
insurable risk that they learn of and that occurs after the execution of the
Insurance Policy, in particular:
b.a deterioration of the financial situation and assets of the Insured;
b.b negotiations regarding loans, provision of guarantees with movable
and immovable property to third parties, negotiations on the exercise
of the right to compensation for damages from the Insured and, if
applicable, the Insured‘s guarantee to third parties;
b.c change in the owner of the Insured;
b.d such organizational, legal and other changes that could have a mate-
rial impact on their obligations arising from the Insurance Policy (filing
a petition for bankruptcy or settlement, commencement of liquidation,
termination of the Insured without liquidation, etc.);
b.e any change in the entry in the Commercial Register or another register,
change of domicile (seat) or address for delivering notices (hereinafter
referred to as „Written Documents“) no later than within eight days of
the change;
b.f any change of the contact person;
c properly register, collect in time and immediately recover any debts incurred
in respect of their operating activities;
d where it concerns termination of the Insurance due to reasons specified in
the Code, return to the Insurance Company the original guarantee certifica-
te or guarantee contract (policy).
3 If the Policyholder, the Insured or the Beneficiary breaches obligations stipu-
lated in clause 1 or 2 of this Article or some other obligations stipulated in
the Insurance Contract, the insurance company, according to the severity of
the breach, has the right to compensation up to the amount of the indemnity
paid, from the person who breached the obligation.
4 The Insurance Company shall:
a if it learns that there has been a violation of the Contract that could result
in a loss event, initiate an investigation without undue delay to determine
and verify the occurrence, cause and scope of the violation;
b after completion of the investigation necessary to determine the existence
and scope of obligation to pay indemnity, to inform the person who asser-
ted the right to indemnity of the result. On request from the person, the
insurace company will explain in writing the amount of indemnity or reason
for its refusal;
c to pay indemnity within 15 days of completion of the investigation unless
otherwise agreed in the insurace contract;
d return to the Policyholder, the Insured or the Beneficiary, upon request, the
documents they have sent or submitted to the Insurance Company, unless
they are essential for the administration of the Insurance or provision of an
insurance benefit;
e inform the Insured without undue delay that the Beneficiary has exercised
their right to an insurance benefit.

ARTICLE 12 Right of the Insurance Company to Compensation for Provi-
ded Insurance Benefits
The Insurance Company shall have the right to claim compensation for insurance
benefits provided by it under the Insurance from the Insured.
ARTICLE 13 Forms of Legal Acts and Communications
1 All legal acts as well as communications related to the insurance are required
in writing, unless further stipulated otherwise.
2 A written form is not required in respect for:
a notifying change in name or surname of the policyholder or the insured, in
postal address electronic address, phone number.
b notifying the contact person of the injured
3 The Policyholder is entitled to take any other legal acts in relation to the
insurance company such as a proposal for change in the insurace contract,
proposal for agreement on termination of the insuracne or proposal for any
other two-party legal act in respect of the insurance. Such a proposal made
by the policyholder in a non-written form is accepted at the moment when
a consenting legal act of the insurance company in writing or confirmation of
acceptance of the policyholder’s proposal in writing is delivered to the policy-
holder.
4 The policyholder, the insured and beneficiary are also entitled to give other
notifications in respect of the insurance in a non-written form. Such a non-wri-
tten notification in considered to be valid if the insurance company confirms in
writing that they have received the notification or starts to act in compliance
with it.
5 Legal acts and communications which do not have to be in writing can be
made in writing, by phone on the phone number of the insurance company
designated for this purpose and published, through an internet application of
the insurance company, through an electronic form available on the official
website of the insurance company or electronically to the electronic address
of the insurance company designated for this purpose. Legal acts and com-
munications which do not have to be in writing must be put in writing if the
insurance company requests it.
6 Legal act of notification included in an attachment to an electronic message in
pdf. form or any similar form which sufficiently ensures security of the content
against change is considered to be a document in writing.
7 Legal act in respect of the insurance does not give rise to legal consequences
arising from usual practices in insurance business, if such act or communicati-
on is signed by the relevant person in their own hand.
8 If a legal act or communication is carried out from an email address or a te-
lephone numebr provably provided to the insurance company by a party to
the insurance, it is deemed to have been carried out by the same party to the
insurance. For this reason, any party to the insurance is obliged to inform the
insurance company of any possible abuse of the email or telephone (e.g. due
to theft, loss, disclosure of access data etc.) without undue delay.
ARTICLE 14 Delivery
1Written Documents refer to legal acts or notices relating to the insurance,
written and signed. They may be in paper or electronic form.
2 The parties shall deliver written documents:
a in person to a representative of the other party;
b by means of an accredited certification service provider at an electronic
address with a secured electronic signature;
c through an operator of postal services to the postal address stipulated in
the insurance contract, provably given by the party to the insurance after
entering into the insurance contract or to an address discovered in compli-
ance with legislation;
d through electronic mail to an electronic address;
e through an internet application of the Insurance Company.
3 A document in writing sent to an electronic address is deemed delivered on
the day when it is delivered to the addressee’s mail box, in case of doubt, it is
deemed to have been delivered on the day when it was sent by the sender.
4 A document in writing sent through an operator of postal services is delivered
on the day when it reaches the address, in case of doubt, it is deemed to have
been delivered on the third working day after its dispatch. However, if it was
dispatech do an address in a foreign state, it is deemed to have been delivered
on the fifteenth working day after dispatch, even if the addressee having deli-
berately obstructed the delivery, did not know about the item of mail. Unless
otherwise agreed, the decision on the method of delivery (ordinary mail, regi-
stered mail etc.) is made by the sender.
General Insurance Terms and Conditions for Guarantee Insurance VPPZAR-P-01/2018
7138 10/2018 EN
5 Parties to the insurance are obliged to inform the insurance company without
undue delay about changes in all facts relevant for delivery and inform each
other of their new postal or electronic address or telephone numbers.
6 If the addressee has deliberately obstructed the delivery, it is deemed that
an act or communication have been properly delivered. The deliberate ob-
struction means particularly the situation in which the addressee does not
communicate in a timely way any change in facts relevant for delivery (particu-
larly change of name, surname, corporate name, change of postal or electronic
address, etc.), if the addressee does not receive the document in writing within
the period that the item is held at the post office, if the addressee does not
mark their mailbox sufficiently, if the addressee refuses to receive the docu-
ment in writing.
7 Documents in writing are deemed delivered to the addressee’s sphere:
a if the addressee refused to receive the document; the day of such refusal
will be the moment of delivery;
b if deposited at the postal services operator; the last day of the period that
the item is held at the post office will be the moment of delivery.
ARTICLE 15 Release from the duty of confidentiality, authorization
1By entering into the insurance contract the policyholder:
a in the case of loss event occurrence releases the prosecuting attorney’s
office, police and other investigative, prosecuting and adjudicating bodies
or a body in charge of administrative proceedings, fire brigade, medical do-
ctors, medical facilities, the ambulance service and health insurance compa-
nies from duty of confidentiality;
b authorizes the Insurance Company or its representative, in all proceedings
relating to the loss event, to inspect court, police or other official docu-
ments and make copies or extracts therof;
c authorizes the Insurance Company or its representative to inspect the do-
cuments of other insurance companies in connection with handling loss
events and their obligation to provide indemnity.
2 The consents and authorizations mentioned above apply also to the period
after the death or termination of the existence of the policyholder as a legal
entity.
ARTICLE 16 Interpretation of Terms
These interpretative provisions shall apply to the terms used in these VPPZAR-P
conditions or in the Insurance Policy.
1 Security shall refer to money deposited into the Insurance Company‘s ac-
count, used to secure the Insured‘s liability (debt).
2 Contract shall refer to the legal arrangement between the Insured and the
Beneficiary, having the form of a written agreement.
3 Guarantee contract (policy) shall refer to a document issued by the Insuran-
ce Company to insure the carrier‘s financial eligibility.
4 Guarantee certificate shall refer to the Insurance Company‘s statement, made
in writing. In that statement the Insurance Company confirms that, under the
conditions set out in the Insurance Policy, to the extent of and up to the in-
surance claim limit, it shall provide an insurance benefit to the Beneficiary if
the Insured fails to meet their obligations arising from the Contract or from
special legislation. The guarantee certificate shall not refer to the guarantee
contract (policy).
5 Advance payment bond shall refer to the Insurance Company‘s written state-
ment that, under the conditions set out in the Insurance Policy and in the gu-
arantee, to the extent of and up to the insurance claim limit, it shall reimburse
the advance payments provided by the creditor to the Insured in accordance
with the Contract, where such advance payments are made before the perfor-
mance of the Contract, if the Insured fails to meet its obligations arising from
the Contract.
6 Bid bond shall refer to the Insurance Company‘s written statement that,
under the conditions set out in the Insurance Policy and in the guarantee
certificate, to the extent of and up to the insurance claim limit, it shall pay for
damages incurred to the Beneficiary due to failure to enter into the Contract,
as stipulated in the tender conditions of the award procedure.
7 Performance bond shall refer to the Insurance Company‘s written statement
that, under the conditions set out in the Insurance Policy and in the guarantee
certificate, to the extent of and up to the insurance claim limit, it shall pay for
damages incurred to the Beneficiary due to the Insured‘s failure to meet their
liabilities (debt) arising from the Contract with respect to the implementation
of work, provision of services or delivery of goods.
8 Maintenance bond shall refer to the Insurance Company‘s written statement
that, under the conditions set out in the Insurance Policy and in the guarantee
certificate, to the extent of and up to the insurance claim limit, it shall pay the
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costs of maintenance of buildings and facilities after their actual completion has not retained and, instead, paid to the Insured prior to the maturity date of
or delivery in accordance with the Contract, if the Insured fails to meet their the retention fee, if the Insured fails to meet their obligations arising from the
liabilities (debt) arising from the Contract. Contract.
9 Retention bond shall refer to the Insurance Company‘s written statement that,
under the conditions set out in the Insurance Policy and in the guarantee
certificate, to the extent of and up to the insurance claim limit, it shall pay to Note: This is a translation; in case of dispute the Czech version shall prevail.
the Beneficiary the retention fee agreed in the Contract, which the Beneficiary

| 8 | General Insurance Terms and Conditions for Guarantee Insurance VPPZAR-P-01/2018