Insurance broker / Surety bond insurance / Policy wording archive Surety bonds
Zurich KTV Basic: the policy wording in full
Kompakte Avalkreditlinie gegen Jahresfestprämie mit Online-Bereitstellung; Avale werden bei einem Creditreform-Bonitätsindex über 300 abgelehnt, ab 401 kann der Versicherer fristlos kündigen.
German market: tariffs for people living in Germany.
Done in two minutes: your details are enough, we take care of the rest.
- Free for you, same price as going direct
- 4.97 out of 5 stars from 5,047 reviews
- On your side when you claim
Take out this policy through NAMMERT
You have already worked out with your AI what fits you.
All we need now are your details and a few answers.
We prepare your application with Zurich.
- AI has advised
- 2Your details
- Application to Zurich
Thank you, we have your application.
We prepare it with Zurich and get back to you with the documents.
Everything about this policy
What the policy covers: 64 points, each with its clause
Quotes are shortened.
The full German wording of each point is on the German page for Zurich KTV Basic.
Basics and bond facility
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Bond facility (overall limit from which individual bonds are drawn) | yes, up to the sum insured | „Der Versicherer stellt dem Versicherungsnehmer eine Avalkreditlinie gegen eine …“ | § 1, page 1 |
| Maximum amount per single bond | not addressed | ||
| Target group of the product by bond requirement or turnover (upper and lower limit) | not addressed | ||
| Contract form: facility agreement, single bond or compact facility with simplified underwriting | yes | „Der Versicherer übernimmt innerhalb der gewählten Avalkreditlinie Avale, mit denen er …“ | § 1, page 1 |
| Issuance of bond certificates through an online portal of the insurer | yes | „erhebt eine Jahresfestprämie als Gegenleistung für die Online-Bereitstellung einer …“ | § 6 Nr. 2 a), page 2 |
| Time limit for issuing a bond after request | not addressed | ||
| Own standard wordings of the insurer for each bond type | not addressed | ||
| Acceptance of wordings prescribed by the beneficiary (after review) | not addressed | ||
| Suitability for public contracting authorities (insurer bond equal to a bank guarantee, e.g. VOB/B section 17, BVergG, Ley 9/2017) | not addressed | ||
| Inclusion of affiliated companies and joint ventures in the same facility | not addressed |
Bond and guarantee types
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Bid bond (security for the tender in a procurement procedure) | not addressed | ||
| Performance bond (execution of the contract) | not addressed | ||
| Warranty or defects liability bond (after acceptance) | not addressed | ||
| Release of cash retentions by a bond | not addressed | ||
| Advance payment bond | not addressed | ||
| Payment bond, including contractor security under BGB section 650f | not addressed | ||
| Bond for building contracts with consumers (BGB section 650m, in Austria BTVG section 4) | not addressed | ||
| Bond for property developers and buyer prepayments (MaBV section 7, BTVG, Spanish LOE) | not addressed | ||
| Customs and tax bond (duty deferment, excise duties) | not addressed | ||
| Rent bond for commercial leases (not private residential tenancies) | not addressed | ||
| Court bond (security in legal proceedings, avoiding enforcement) | not addressed | ||
| Bond for decommissioning, restoration and waste disposal (wind power, landfill, quarrying) | not addressed | ||
| Bond for tour operators and travel agents (insolvency protection of customer money) | not addressed | ||
| Bonds or guarantees payable on first demand | not addressed | ||
| Bonds to foreign beneficiaries or via partner insurers abroad (fronting) | not addressed | ||
| Bonds without expiry date | yes | „bucht unbefristete Avale erst dann aus, wenn er für die jeweiligen Avale eine …“ | § 3 Nr. 1 f), page 1 |
Premium and costs (rules, no prices)
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Premium basis: bond commission on outstanding exposure, on the facility or per bond | yes | „erhebt Prämien, die bezogen auf die Avalsumme berechnet werden, für die der Versicherer …“ | § 6 Nr. 2 b), page 2 |
| Commitment fee on the unused facility | yes, up to the sum insured | „erhebt eine Jahresfestprämie als Gegenleistung für die Online-Bereitstellung einer …“ | § 6 Nr. 2 a), page 2 |
| Minimum premium per contract or per bond | not addressed | ||
| Issuance, handling or amendment fees | yes, up to the sum insured | „wird dem Versicherungsnehmer zusätzliche, nachweislich entstandene Aufwendungen/Kosten …“ | § 6 Nr. 2 e), page 2 |
| Premium runs until the certificate is returned or the beneficiary releases the bond, not only until expiry | not addressed | ||
| Pro rata premium refund on early return | no | „erstattet keine Rückvergütung der Jahresfestprämie wegen mangelnder Ausnutzung der …“ | § 6 Nr. 2 d), page 2 |
| Adjustment of premium rates on a change of credit rating during the term | not addressed | ||
| Treatment of insurance premium tax (charged or not) | not addressed |
Recourse and collateral
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Insurer recourse against the policyholder after payment to the beneficiary | yes | „ist der Versicherungsnehmer unbeschadet weitergehender Ersatzansprüche, insbesondere …“ | § 5 Nr. 1, page 1 |
| Reimbursement also of interest, costs and legal costs of the insurer | yes | „Zahlungsansprüche sind ab Belastungsdatum bis zur Rückerstattung mit neun vom Hundert …“ | § 5 Nr. 1, page 1 |
| Collateral as a precondition (cash collateral, pledge, land charge) | yes | „nach Beendigung der Kautionsversicherung den Versicherer von der Haftung aus den Avalen …“ | § 8 b), page 2 |
| Counter-guarantee or joint liability of shareholders or directors | not addressed | ||
| Insurer right to additional collateral if creditworthiness deteriorates | yes | „in den Fällen des § 7 Nr. 2 Buchstabe b) und c) dem Versicherer eine gesonderte …“ | § 8 a), page 2 |
| Exemption claim: insurer can demand indemnity or security before paying | yes | „nach Beendigung der Kautionsversicherung den Versicherer von der Haftung aus den Avalen …“ | § 8 b), page 2 |
| Consultation of the policyholder before the insurer pays the beneficiary | yes | „wird den Versicherungsnehmer bei Inanspruchnahme eines Avals unterrichten und ihn …“ | § 4 Nr. 2 a), page 1 |
| Payment by the insurer without examining objections of the policyholder (binding in recourse) | yes | „verzichtet im Fall der Inanspruchnahme gegenüber dem Versicherer ausdrücklich auf …“ | § 4 Nr. 1 d), page 1 |
| Assignment of receivables from the secured contract to the insurer | not addressed |
Duties of the policyholder
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Submission of annual accounts and interim figures (deadlines) | yes | „auf Anfrage des Versicherers über die Geschäftsentwicklung und alle weiteren dem …“ | § 2 a), page 1 |
| Notification of material changes (legal form, shareholders, payment difficulties) | yes | „unaufgefordert den Versicherer über alle wesentlichen Veränderungen in seinen …“ | § 2 b), page 1 |
| Submission of the required wording before signing with the beneficiary | not addressed | ||
| Duty to recover and return discharged certificates | yes | „wird im Fall einer drohenden oder bereits eingetretenen Insolvenz ausgestellte Avale …“ | § 3 Nr. 2 c), page 1 |
| Prompt notice of disputes with the beneficiary or a threatened call | yes | „wird den Versicherer in jedem Einzelfall informieren, wenn aus Verzögerungen oder …“ | § 3 Nr. 2 b), page 1 |
| Insurer right to inspect books and projects | yes | „stimmt zu, dass die Avalgläubiger dem Versicherer über Abwicklung und Höhe der …“ | § 3 Nr. 2 d), page 1 |
| Consequences of a breach of duty (facility freeze, termination, damages) | yes | „kann den Kautionsversicherungsvertrag aus wichtigem Grund mit sofortiger Wirkung …“ | § 7 Nr. 2 c), page 2 |
Term, termination and facility changes
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Term and renewal of the facility agreement | not addressed | ||
| Notice period for the policyholder | yes | „Der Versicherungsnehmer ist jederzeit berechtigt, den Kautionsversicherungsvertrag mit …“ | § 7 Nr. 1, page 2 |
| Insurer right to reduce the facility at any time or freeze it for new bonds | yes | „kann die Übernahme eines Avals ablehnen und wird die Übernahme insbesondere dann …“ | § 3 Nr. 1 c), page 1 |
| Extraordinary termination by the insurer (good cause, credit rating) | yes | „der VC (Verein Creditreform)-Bonitätsindex des Versicherungsnehmers auf oder über einen …“ | § 7 Nr. 2 c), page 2 |
| Issued bonds remain in force after termination until released | yes | „nach Beendigung der Kautionsversicherung den Versicherer von der Haftung aus den Avalen …“ | § 8 b), page 2 |
| End of liability by return of certificate, release declaration or expiry | yes | „bucht Avale mit einer im Wortlaut enthaltenen zweifelsfreien Befristung aus, wenn ihm …“ | § 3 Nr. 1 e), page 1 |
| Consequences of the policyholder insolvency | yes | „Die Ersatzpflicht nach Nr. 1. erstreckt sich auch auf Aufwendungen, die dem Versicherer …“ | § 5 Nr. 3, page 2 |
| Governing law and jurisdiction | yes | „Es gilt deutsches Recht. Erfüllungsort und Gerichtsstand ist – soweit rechtlich …“ | § 11, page 3 |
Exclusions and limits
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Exclusion of guarantees for loans and financing | not addressed | ||
| Exclusion of bonds for obligations of third parties | not addressed | ||
| Exclusion of global or all-moneys guarantees | not addressed | ||
| Exclusion or conditions for bonds in foreign currency | not addressed | ||
| Sanctions clause (no cover under embargoes and sanctions) | yes | „gewährt bzw. leistet der Versicherer aus diesem Versicherungsvertrag keinen …“ | § 10, page 3 |
| Distinction from private residential rent deposits (separate product, not in scope) | not addressed |
Evaluated by NAMMERT from published policy wordings.
Despite care, a value may be misread;
legally only the wording of your own contract in the edition stated there applies.
Please report errors, we correct them the same day.
Policy wordings and provider
- Legal entity
- Zurich Insurance Europe AG, Niederlassung für Deutschland
- Distribution
- available through brokers
- Allgemeine Bedingungen für die Kautionsversicherung, AVB Avalkredit KTV Basic 2024 Edition: AVB Avalkredit KTV Basic 2024, Fassung 01/2026 Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German.
It is printed on the German page for Zurich KTV Basic and available as plain text.
Volltext Zurich KTV Basic Kautionsversicherung · As text (Markdown) Zurich KTV Basic