Pledge

A pledge is a security right over property granted to secure a claim. If the debtor defaults, the pledgee may seek satisfaction from the pledged asset according to enforcement rules, usually with priority over unsecured creditors. Swiss law distinguishes pledges over movables, claims, securities, and land, each with its own requirements for creation, publicity, and enforcement. The pledge normally remains accessory to the secured claim, meaning its existence and extent depend on the underlying obligation unless special rules provide otherwise.