Federal Act
on the Amendment of the Swiss Civil Code
(Part Five: The Code of Obligations)

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

of 30 March 1911 (Status as of 1 January 2022)
Art. 408

B. Loan au­thor­isa­tion

I. Defin­i­tion and form

 

1 Where a per­son has re­ceived and ac­cep­ted an or­der to act as an agent in grant­ing or re­new­ing a loan to a third party in his own name and for his own ac­count but on the au­thor­isa­tion of the prin­cip­al, the prin­cip­al is li­able for the pay­ee’s ob­lig­a­tion in the same man­ner as a surety, provided that the agent has not ex­ceeded his au­thor­ity.

2 The prin­cip­al in­curs such li­ab­il­ity only where the au­thor­isa­tion was giv­en in writ­ing.

 
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