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

¹ As soon as the prin­cip­al ob­lig­a­tion falls due, even as a res­ult of the bank­ruptcy of the prin­cip­al debt­or, the surety may at any time de­mand that the cred­it­or ac­cept sat­is­fac­tion from him. Where sev­er­al per­sons stand surety for an ob­lig­a­tion, the cred­it­or is ob­liged to ac­cept even a part pay­ment, provided it at least equals the share of the surety of­fer­ing pay­ment.

² Where the cred­it­or re­fuses without just cause to ac­cept pay­ment, the surety is re­leased from his li­ab­il­ity. In this event the li­ab­il­ity of all oth­er jointly and sev­er­ally li­able co-sureties is de­creased by the amount of his share.

³ If the cred­it­or is pre­pared to ac­cept sat­is­fac­tion, the surety may pay him even be­fore the prin­cip­al ob­lig­a­tion falls due. However, the surety has no right of re­course against the prin­cip­al debt­or un­til the ob­lig­a­tion falls due.