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• The insurant is obliged to inform the insurance company about
his cash or non-cash loans and the significant changes which
may potentially affect the decision on providing insurance.
• The insurant cannot grant a lien or mortgage right, etc. on his
assets in favor of the third parties without the knowledge of the
insurance company.
It should be noted that unlike the insurant, no obligation is
imposed on the insurance company for the period before the issuance
of the surety bond.
After the issuance of the surety bond, it may be concluded that the
parties shall fulfill the following obligations:
• The insurant shall inform the insurance company if he foresees
potential damage because of a delay in the communication, on
the carrying out of instructions or due to negligence after the
insurance surety has been issued.
• The insurant accepts that the beneficiary shall inform the insur-
ance company on subjects relating to the surety bond.
• On the other hand, the insurance company should pay attention
to the choice of principal surety in case there is an indirect
surety.
• The insurance company is obliged to delete the record of the
surety from the private account where situations provided in
Section B.2 of the General Conditions occur.
After the risk occurs, the following obligations shall be consid-
ered:
• The insurant shall act in order to fulfill his obligation as if there
was no insurance agreement after the risk occurs.
• In case the obligation is not fulfilled and the surety becomes
effective, the insurant cannot object to the request of conversion
of the surety into payment with respect to its cause, amount or
balance.
• The insurance company, where the beneficiary requests com-
pensation, can inform the insurant and may ask him to take
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