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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
The document titled 'Power of Attorney - Company' is a legal instrument that grants authority to a designated individual or entity, referred to as the attorney, to act on behalf of another party, known as the principal. This power of attorney is made effective as of the current date.
The principal appoints the attorney to execute and deliver documents on its behalf. The attorney is authorized to complete blanks, make amendments, alterations, or additions to the documents as necessary or desirable, or as authorized in writing by the principal. The attorney is also empowered to execute and deliver any other documents or perform acts related to the documents or the transactions they pertain to, at their absolute discretion.
Additionally, the attorney is granted the authority to exercise the rights, powers, duties, and discretions of the principal arising from or in connection with the documents or any related documents. If specified, the attorney may appoint and remove a substitute, delegate powers to an agent, and determine their remuneration.
The power of attorney may be irrevocable for a specified period or for a term of months, after which it will cease to have effect. During the specified period, acts performed and documents executed or signed by the attorney in good faith, in the purported exercise of the powers conferred by the deed, are deemed valid and binding on the principal and its successors and assigns.
The principal undertakes to indemnify the attorney and their agents against any actions, proceedings, claims, costs, expenses, and liabilities arising from the exercise of the powers conferred by the deed, provided they were done in good faith. The principal also ratifies and confirms any actions taken by the attorney in connection with the transaction.
This power of attorney is permitted by and given in accordance with the principal's constitutional documents. The deed is governed by the laws of the jurisdiction state and shall be construed accordingly. The principal has duly executed and delivered this deed on the specified day and year.
To use the 'Power of Attorney - Company' document effectively, follow these steps:
1. Enter the current date of the power of attorney agreement.
2. Identify the principal by providing their name and address in the designated fields.
3. Designate the attorney by providing their name and address in the corresponding fields.
4. Determine whether any amendments or changes to the documents are authorized by the principal or solely at the discretion of the attorney. If authorized, specify the method of authorization.
5. Specify the scope of the attorney's authority by describing the documents they are authorized to execute and deliver.
6. If applicable, grant the attorney the power to appoint and remove a substitute or delegate powers to an agent. Determine the remuneration, if any, for the substitute or agent.
7. Determine the duration of the power of attorney. If it is irrevocable, specify the term in months. If revocable, also specify the term in months.
8. Clarify the validity of acts performed and documents executed or signed by the attorney during the specified period.
9. If indemnification is required, state the principal's undertaking to indemnify the attorney and their agents against any actions, proceedings, claims, costs, expenses, and liabilities arising from the exercise of powers conferred by the deed.
10. Confirm the principal's ratification and agreement to ratify any actions taken by the attorney in connection with the transaction.
11. Ensure compliance with the principal's constitutional documents.
12. Specify the governing laws of the jurisdiction state.
13. Execute and deliver the deed, ensuring it is properly witnessed.
Please note that this guidance provides a general overview and should not be considered legal advice. It is recommended to consult with a qualified legal professional to ensure compliance with applicable laws and regulations.