Bürgschaft · contract of surety
Under a contract of surety, one person answers for another person's debt. Its validity depends on strict formal requirements, so it must never be confused with an independent guarantee. In English, too, guarantee is not a synonym: the Federal Administration translates Bürgschaft as contract of surety.
Request a demoThe term in four languages
- German
- Bürgschaft
- French
- cautionnement
- Italian
- fideiussione
- English
- contract of surety
Definition
Under a contract of surety, the surety undertakes towards the creditor to vouch for performance of the debt owed by the principal debtor. The commitment is accessory: it follows the fate of the debt it secures, which distinguishes it from an independent guarantee. The Code of Obligations requires a written declaration and an indication of the maximum amount of liability. Where the surety is a natural person, a public deed is also required above a certain amount.
Swiss federal acts are published in German, French and Italian, and all three versions are equally authoritative. The English term shown here comes from the Federal Administration's English translation, published on Fedlex for information only. Where there is no translation, it follows common usage.
Full glossaryThe term in an official text
powered by Neur.onDurch den Bürgschaftsvertrag verpflichtet sich der Bürge gegenüber dem Gläubiger des Hauptschuldners, für die Erfüllung der Schuld einzustehen.
Under a contract of surety, the surety undertakes as against the creditor of the principal debtor to vouch for performance of the obligation.
Source: Fedlex, Code of Obligations. In Corrext, this segment and the ones around it appear in Fast lookup CHnell, each with its reference.