Power of Attorney in Jordan:
Purpose:
A power of attorney (POA) is a legal document that grants authority to an individual or entity (the agent) to act on behalf of another person or entity (the principal) in various matters, including business transactions, legal proceedings, and administrative tasks.
Procedure:
Creation: The principal drafts the power of attorney Jordan document, specifying the scope of authority granted to the agent and any limitations or conditions.
Formalization: The document typically requires notarization or authentication by a notary public or legal authorities to ensure its legality and validity.
Execution: Once drafted and formalized, the power of attorney is executed by the principal, often in the presence of witnesses or a notary public.
Requirements:
Identification: Both the principal and the agent must provide valid identification documents.
Specificity: The powers granted should be clearly defined and specific to the intended purpose.
Signature: The document must be signed by the principal, indicating their consent and authorization of the agent’s powers.
Jordan Certificate of Incumbency:
Purpose:
A certificate of incumbency is a legal document issued by a company’s registered agent or secretary that confirms the identities of the company’s directors, officers, and shareholders. It provides information about the current incumbents of key positions within the company.
Procedure:
Request: A request for a certificate of incumbency is made by the company or its authorized representative to the registered agent or secretary.
Verification: The registered agent or secretary verifies the identities and positions of the company’s directors, officers, and shareholders through corporate records and documentation.
Preparation: Once verified, the certificate of incumbency is prepared, typically including information such as the names, positions, and addresses of the company’s directors, officers, and shareholders.
Issuance: The certificate of incumbency is issued by the registered agent or secretary to the requesting party, confirming the identities of the company’s key incumbents.
Requirements:
Verification: The identities and positions of the company’s directors, officers, and shareholders must be verified through corporate records and documentation.
Preparation: The certificate of incumbency must be accurately prepared, including all relevant information about the company’s key incumbents.
Issuance: The certificate of incumbency is issued by the registered agent or secretary to the requesting party, confirming the identities of the company’s key incumbents.
Key Differences:
Nature:
Power of Attorney: Grants authority to act on behalf of another party in various matters.
Certificate of Incumbency: Confirms the identities of a company’s directors, officers, and shareholders.
Formalization:
Power of Attorney: Requires notarization or authentication for validity.
Certificate of Incumbency: Issued by the registered agent or secretary based on verification of corporate records.
Purpose:
Power of Attorney: Enables representation and decision-making on behalf of another party.
Certificate of Incumbency: Confirms the identities of key incumbents within a company.
Understanding these differences is essential for businesses and individuals engaging in corporate governance and legal matters in Jordan. It ensures compliance with the appropriate procedures and facilitates the effective use of these documents in business transactions and legal proceedings.
