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

¹ Where the pur­pose of the pay­ment in­struc­tion is to re­deem a debt owed by the prin­cip­al to the pay­ee, the debt is re­deemed only once the agent has made the trans­fer.

² However, where the pay­ee has ac­cep­ted a pay­ment in­struc­tion, he may as­sert his claim against the prin­cip­al only if he called for pay­ment from the agent but did not re­ceive it be­fore ex­piry of the term stip­u­lated in the pay­ment in­struc­tion.

³ A cred­it­or who does not wish to ac­cept a pay­ment in­struc­tion re­ceived from his debt­or must no­ti­fy the debt­or im­me­di­ately in or­der to avoid li­ab­il­ity in dam­ages.