Schuldnerverzug · default of the obligor
Default is the key concept for late performance in Swiss law. It triggers default interest and gives the obligee the rights set out in Articles 107 to 109 of the Code of Obligations. The English translation says obligor and obligee here, debtor and creditor elsewhere: both pairs render the same German words.
Request a demoThe term in four languages
- German
- Schuldnerverzug
- French
- demeure du débiteur
- Italian
- mora del debitore
- English
- default of the obligor
Definition
Where an obligation is due, the obligor is in default as soon as they receive a formal reminder from the obligee. Where a deadline for performance has been set by agreement, or by a duly exercised right of termination, the obligor is automatically in default when it expires. An obligor in default is liable even for accidental damage, and default interest runs on pecuniary debts. Under a bilateral contract, the obligee may set a time limit for performance and then withdraw from the contract.
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.onIst eine Verbindlichkeit fällig, so wird der Schuldner durch Mahnung des Gläubigers in Verzug gesetzt.
Where an obligation is due, the obligor is in default as soon as he receives a formal reminder from the obligee.
Source: Fedlex, Code of Obligations. In Corrext, this segment and the ones around it appear in Fast lookup CHnell, each with its reference.
Related terms
The interest owed by a debtor who is in default on payment of a pecuniary debt.
Schadenersatz · damagesCompensation for damage caused by non-performance or by an unlawful act.
Konventionalstrafe · contractual penaltyA sum promised in advance in case the contract is not performed.