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

¹ A set-off takes place only if the debt­or no­ti­fies the cred­it­or of his in­ten­tion to ex­er­cise his right of set-off.

² Once this has oc­curred, to the ex­tent that they can­cel each oth­er out, the claim and coun­ter­vail­ing claim are deemed to have been sat­is­fied as of the time they first be­came sus­cept­ible to set-off.

³ The spe­cial cus­toms re­lat­ing to com­mer­cial cur­rent ac­counts are un­af­fected.