In What Cases A Power Of Attorney Is Required

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In What Cases A Power Of Attorney Is Required
In What Cases A Power Of Attorney Is Required

Video: In What Cases A Power Of Attorney Is Required

Video: Power of Attorney Explained 2022, November
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In the case when it is necessary to represent the interests of an enterprise or a citizen somewhere, it comes to issuing a power of attorney. Making it out, you should adhere to several important rules.

When to issue a power of attorney
When to issue a power of attorney

Instructions

Step 1

A power of attorney is a document that gives the right to represent the interests of the principal (enterprise or citizen) to third parties. It is issued to both the representative and the subject, where the representative will have to perform the appropriate actions. For example, a power of attorney for the disposal of funds in the bank can be provided by the principal to the bank directly. In this case, it will be enough for the representative to present an identity document.

Step 2

The power of attorney is drawn up in writing. If the subject of the power of attorney is the execution of transactions requiring notarization, the filing of applications for state registration of rights and transactions, as well as the disposal of the rights registered in state registers, then you should contact a notary for its execution. Also, the power of attorney to represent the interests of a citizen in court must be notarized.

Step 3

Any power of attorney has the following details: the name of the document, the date and place of issue, information about the principal and the representative, the content of the representative's powers, the validity period of the power of attorney, as well as the signature of the principal. For powers of attorney issued by legal entities, a seal is required. If the power of attorney involves the conclusion of transactions, as well as the signing or receipt of documents, then it must also contain a sample signature of the representative. In addition, the power of attorney may stipulate the right of a representative to transfer his functions to a third party (submission).

Step 4

A power of attorney is required when a representative must conclude one or more transactions. For example, on behalf of a legal entity, a transaction is concluded by the head of its division. In this case, he must act on the basis of a power of attorney. In such a power of attorney, the type of transactions, their essential conditions, as well as the maximum amount can be specified.

Step 5

If a person, due to illness or other reasons, cannot receive payments due to him (salary, pension, scholarship, etc.) or postal mail, with the exception of valuable, he is also obliged to issue a power of attorney. Such a power of attorney can be certified at the place of work (study), or by the head physician of the medical institution where the person is.

Step 6

The owner of the car can entrust its management to close relatives or other persons. In this case, a corresponding power of attorney is also drawn up.

Step 7

In corporate legal relations, a power of attorney is issued to represent the interests of a legal entity in another enterprise in which it is a participant. Such a power of attorney, in particular, provides the authority to participate in the general meeting with the right to vote on it. In addition, a power of attorney may cover the right to sign on protocols and constituent documents.

Step 8

The power of attorney is also drawn up within the framework of the assignment agreement. And if the contract regulates the relationship between the principal and the attorney, then the power of attorney confirms the powers of the latter before third parties. After the execution of the order or in case of termination of the contract, the power of attorney must be returned.

Step 9

A power of attorney becomes necessary when defending the interests of the principal in court and in other state bodies. In such a power of attorney, several persons can be indicated as representatives at once, each of whom can act independently.

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