Federal Act on the Amendment of the Swiss Civil Code (OR)

Art. 471OR from 2022

Art. 471

¹ The provisions of this Title apply to payment instructions made out to the bearers of negotiable securities on the premise that each such bearer is considered to be the payee in relation to the agent, whereas the rights as between the principal and the payee are established only in respect of each transferor and transferee.

² The special provisions governing cheques and payment instructions similar in nature to bills of exchange are unaffected.