Power of Attorney

Introduction to Power of Attorney

Power of Attorney, in law, written document, certified by a notary public, designating a person or party as an agent empowered to act for another person (principal) in a legal capacity. A general power of attorney authorizes the named agent to act on behalf of the principal or signer in any legal circumstance, whereas a special power of attorney specifies and restricts the province of an agent’s responsibility. Most frequently, people will give another person power of attorney when they are ill or for other reasons are unable to conduct their own affairs, or when they are absent from home or business for a long period of time. A power of attorney is revocable under normal circumstances and becomes void on the death of the principal. See Principal and Agent.” (1)

Power of Attorney in International Trade

Meaning of Power of Attorney, according to the Dictionary of International Trade (Global Negotiator): The authority to act for another in legal or financial matters. In international, some countries require that a customs broker and/or forwarder have a power of attorney in order to represent a principal for import or export control purposes. For example: to enter into contracts, to sign documents, to sign checks, etc. A principal may execute a special power of attorney authorizing an agent to sign a specific contract or a general power of attorney authorizing the agent to sign all contracts for the principal. When you set up a power of attorney, make sure that it is broad enough in its language to cover the types of situations likely to arise, but not so broad that it gives more power to that individual than you intend. Before giving someone power of attorney in a foreign country, be sure you understand what the local legal ramifications are. See agent; customs broker; forwarder.

Resources

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Notes and References

Information about Power of Attorney in the Encarta Online Encyclopedia

Guide to Power of Attorney

Hierarchical Display of Power of attorney

Law > Civil law > Civil law > Contract