1 Where the endorsement contains the comment “value for collection”, “for collection”, “per pro.” or some other comment expressing no more than authorisation, the holder may exercise all the rights under the bill of exchange; however, he may transfer it only by means of a further procuration endorsement.
2 In this case, the parties liable on a bill may plead against the holder only such defences as are available to them against the endorser.
3 The authority conferred by the procuration endorsement is not extinguished on the death or incapacity of the person conferring it.
1 L’endosseur est, sauf clause contraire, garant de l’acceptation et du paiement.
2 Il peut interdire un nouvel endossement; dans ce cas, il n’est pas tenu à la garantie envers les personnes auxquelles la lettre est ultérieurement endossée.
This document is not an official publication. Only the publication of the Federal Chancellery is legally binding.
Ceci n’est pas une publication officielle. Seule la publication opérée par la Chancellerie fédérale fait foi. Ordonnance sur les publications officielles, OPubl.