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

¹ A debt­or in de­fault on pay­ment of in­terest, an­nu­it­ies or gifts is li­able for de­fault in­terest only as of the day on which en­force­ment pro­ceed­ings are ini­ti­ated or leg­al ac­tion is brought.

² Any agree­ment to the con­trary is as­sessed by the court in ac­cord­ance with the pro­vi­sions gov­ern­ing pen­alty clauses.

³ De­fault in­terest is nev­er pay­able on de­fault in­terest.