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

¹ Where the cheque is de­nom­in­ated in a cur­rency oth­er than that of the place of pay­ment, the cheque amount may be paid in the na­tion­al cur­rency at its value as at the date of present­a­tion. Where pay­ment is not made on present­a­tion, the bear­er is free to choose wheth­er the cheque amount is con­ver­ted in­to the na­tion­al cur­rency at the rate ap­plic­able on the date of present­a­tion or the rate ap­plic­able on the pay­ment date.

² The value of the for­eign cur­rency is de­term­ined ac­cord­ing to cus­tom­ary com­mer­cial prac­tice at the place of pay­ment. However, the draw­er may stip­u­late an ex­change rate for the bill amount on the bill of ex­change.

³ The pro­vi­sions of the two pre­vi­ous para­graphs are not ap­plic­able if the draw­er has stip­u­lated pay­ment in a spe­cified cur­rency (ac­tu­al cur­rency clause).

⁴ Where the cheque is de­nom­in­ated in a cur­rency which has the same name but a dif­fer­ent value in the coun­try in which the cheque was is­sued and that in which it is pay­able, the pre­sump­tion is that the cur­rency meant is that of the place of pay­ment.