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

Art. 499OR from 2022

Art. 499

¹ In all cases, the surety’s liability is limited to the maximum amount indicated in the surety bond.

² Unless otherwise agreed, he is liable up to this limit for:

1.

the amount of the principal obligation, including the legal consequences of any fault or default on the part of the principal debtor, but not for damage resulting from the extinction of the contract and any contractual penalty unless this was expressly agreed;

2.

the costs of debt enforcement proceedings and legal action brought against the principal debtor, provided that the surety was given timely opportunity to avoid them by satisfying the creditor, and, where applicable, for the costs of delivering pledges and transferring liens;

3.

interest at the contractually agreed rate up to a maximum of the interest payable for the current year and the previous year or, where applicable, for the annual payments due for the current year and the previous year.

³ Unless otherwise provided by the contract or dictated by the circumstances, the surety is liable only for the principal debtor’s obligations arising after the contract of surety was concluded.

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