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

¹ Where a pen­alty is prom­ised for non-per­form­ance or de­fect­ive per­form­ance of a con­tract, un­less oth­er­wise agreed, the cred­it­or may only com­pel per­form­ance or claim the pen­alty.

² Where the pen­alty is prom­ised for fail­ure to com­ply with the stip­u­lated time or place of per­form­ance, the cred­it­or may claim the pen­alty in ad­di­tion to per­form­ance provided he has not ex­pressly waived such right or ac­cep­ted per­form­ance without re­ser­va­tion.

³ The fore­go­ing does not ap­ply if the debt­or can prove that he has the right to with­draw from the con­tract by pay­ing the pen­alty.