Artikel 18

When an endorsement contains the statements „value in collection” („valeur en recouvrement”), „for collection” („pour encaissement”), „by procuration” („par procuration”) or any other phrase implying a simple mandate, the holder may exercise all rights arising out of the bill of exchange, but he can only endorse it in his capacity as agent.
In this case, the parties liable can only set up against the holder defences which could be set up against the endorser.
The mandate contained in an endorsement by procuration does not terminate by reason of the death of the party giving the mandate or by reason of his becoming legally incapable.