The pledge serves to secure a loan. By signing the pledge contract the guarantor undertakes to vouch for fulfilment of the debt vis-à-vis the principal debtor’s creditor. In the event of inability to pay (in the case of a joint security as soon as payment is late) the guarantor must thus repay the principal debtor’s debts up to the agreed maximum sum. The guarantor is entitled to recourse to the debtor for the total sum repaid. Declarations of pledge by natural persons concerning a liability sum exceeding CHF 2000 must be publically certified by a notary.