Article 1663. Creditor’s Pre-Contractual Duties

(1) Before a suretyship is granted, the creditor has a duty to explain to the intending surety:
a) the general effect of the intended suretyship; and
b) the specific risks to which the surety may according to the information accessible to the creditor be exposed in view of the financial situation of the debtor.
(2) If the creditor knows or has reason to know that due to a relationship of trust between the debtor and the surety there is a significant risk that the surety is not acting freely or with adequate information, the creditor has a duty to ascertain that the surety has received independent advice. The methods of determining that the surety has received independent advice are established by the Government.
(3) If the information provided in paragraph (1) or, as the case may be, the independent advice provided in paragraph (2) is not received by the surety at least 5 days before the surety signs the offer of suretyship or the suretyship itself, the offer can be revoked or the suretyship avoided by the surety within a reasonable time after receipt of the information or independent advice. For this purpose five days is regarded as a reasonable time unless the circumstances suggest otherwise.
(4) If contrary to the provisions of paragraphs (1) or (2) no information or independent advice is given, the offer of suretyship can be revoked or the suretyship avoided by the surety at any time.
(5) If the surety revokes the offer or avoids the suretyship under paragraphs (1)-(4), the return of benefits by the parties is governed by the legal provisions on unjust enrichment.
(6) The provisions of this Article do not apply if the juridical act by which the suretyship is provided is concluded in authentic form.