The Irrevocable Letter of Authority is a critical legal instrument in Philippine business and personal transactions where permanent delegation of authority is required. This document is particularly useful in situations where the recipient of the authority needs assurance that the powers granted cannot be arbitrarily withdrawn, such as in securing business deals, managing assets, or handling long-term transactions. The document must comply with Philippine Civil Code requirements and typically includes detailed specifications of the powers granted, the scope of authority, and the duration of the arrangement. It's commonly used in banking transactions, property dealings, corporate representations, and other situations where the finality of the authority granted is essential for the transaction's success. The irrevocable nature of this document distinguishes it from regular powers of attorney and requires careful consideration before execution.
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1. Date and Place of Execution: Specific date and location where the letter is executed, essential for legal validity
2. Grantor Information: Complete name, address, and identification details of the person granting the authority
3. Attorney-in-Fact Information: Complete details of the person or entity being granted the authority
4. Grant of Authority: Clear and specific description of the powers being granted
5. Declaration of Irrevocability: Express statement that the authority granted is irrevocable and the legal basis for such irrevocability
6. Duration of Authority: Specific period or condition for which the authority remains valid
7. Ratification Clause: Statement validating all acts done under the authority
8. Signature Block: Space for grantor's signature, witnesses, and notary public
1. Special Powers: Additional specific powers being granted beyond the general authority, used when particular actions need to be explicitly authorized
2. Successor Provision: Clause designating successor attorney-in-fact, used when continuity of authority needs to be ensured
3. Governing Law: Specific mention of applicable laws, used in cases involving cross-border transactions
4. Acceptance by Attorney-in-Fact: Formal acceptance of the authority by the attorney-in-fact, used in more formal arrangements
5. Revocation Conditions: Specific conditions under which the authority may be revoked, despite its irrevocable nature, used in special circumstances
1. Schedule A - Scope of Authority: Detailed enumeration of specific powers and authorities being granted
2. Schedule B - Asset Schedule: List of specific assets, accounts, or properties covered by the authority
3. Schedule C - Required Documents: List of supporting documents that the attorney-in-fact is authorized to sign or process
4. Appendix 1 - ID Requirements: Specifications of acceptable identification documents for verification purposes
Relevant legal definitions
Clauses
Relevant Industries
Banking and Finance
Real Estate
Insurance
Securities and Investments
Corporate Services
Legal Services
Government Services
Healthcare
Education
Import/Export
Manufacturing
Retail
Relevant Teams
Legal
Compliance
Corporate Secretariat
Risk Management
Operations
Administrative
Finance
Business Development
Government Relations
Contract Management
Relevant Roles
Legal Counsel
Corporate Secretary
Compliance Officer
Bank Manager
Real Estate Broker
Business Development Manager
Chief Executive Officer
Chief Financial Officer
Investment Manager
Property Manager
Risk Manager
Operations Director
Administrative Officer
Contract Administrator
Government Relations Officer
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