Article 401 of Civil Code

1 - If the creditor, without acceptable justification, refuses performance duly tendered to him, refuses to undertake the acts without which performance cannot be completed, or declares that he refuses performance, the debtor may serve him with formal notice recording that refusal against him. 2 - Once formal notice has been served, the creditor shall bear the risk of destruction of or damage to the thing, and the debtor shall have the right to deposit the thing at the creditor’s expense and claim compensation if there are grounds for it.