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

Art. 966

B. Ob­lig­a­tion un­der the se­cur­ity

 

1 The ob­lig­or un­der a ne­go­ti­able se­cur­ity is ob­liged to render per­form­ance only against sur­render of the in­stru­ment.

2 By ren­der­ing the per­form­ance due at ma­tur­ity to the cred­it­or as in­dic­ated by the in­stru­ment, the ob­lig­or is re­leased from the ob­lig­a­tion un­less he is guilty of malice or gross neg­li­gence.