Delegate Power of Attorney
I, [Principal's Name], residing at [Principal's Address], hereby grant power of attorney to [Original Agent's Name], residing at [Original Agent's Address], to act on my behalf in all matters specified herein.
In certain complex legal or financial transactions where the original agent may lack specific expertise or availability, they reserve the right to delegate certain tasks or decisions to another individual with the necessary skills or availability to ensure the success of the transaction. This delegation of authority shall be subject to the following conditions:
I. Scope of Delegation
The original agent is authorized to delegate specific tasks or decisions outlined in this power of attorney to another individual, referred to as the sub-agent or delegate. Such delegation must be limited to areas where the original agent lacks expertise or availability and is necessary for the efficient completion of the transaction.
II. Expertise and Qualifications
The sub-agent or delegate appointed by the original agent must possess the requisite expertise, qualifications, and competence to carry out the delegated tasks or decisions effectively. The original agent shall exercise due diligence in selecting a suitable sub-agent or delegate, ensuring that they are capable of representing the principal's interests competently.
III. Notification to the Principal
The original agent shall promptly notify the principal of any delegation of authority to a sub-agent or delegate, providing details of the tasks or decisions being delegated and the identity of the appointed individual. The principal retains the right to approve or reject the appointment of the sub-agent or delegate.
IV. Oversight and Accountability
The original agent shall maintain oversight and accountability over the actions of the appointed sub-agent or delegate, ensuring that they act by the terms of this power of attorney and in the best interests of the principal. The original agent remains ultimately responsible for the actions of the sub-agent or delegate.
V. Responsibility of Sub-agent or Delegate
The sub-agent or delegate shall carry out the delegated tasks or decisions diligently and according to the instructions provided by the original agent. They shall act in the best interests of the principal at all times and comply with any legal or ethical obligations associated with their role. The sub-agent or delegate shall keep accurate records of their actions and provide regular updates to the original agent as required.
VI. Revocation of Delegation
The original agent reserves the right to revoke the delegation of authority to a sub-agent or delegate at any time, upon providing written notice to both the principal and the appointed individual. Upon revocation, the original agent shall resume sole responsibility for the delegated tasks or decisions.
Principal:
[Principal's Name]
Agent:
[Original Agent's Name]
Witness Acknowledgment
This Delegate Power of Attorney is executed voluntarily and with full understanding of its implications. By granting this power of attorney, I affirm that I am of sound mind and legal capacity to make such decisions.
Witness 1:
[Witness 1 full name]
[Date]
Witness 2:
[Witness 2 full name]
[Date]
Notary Acknowledgment
On this day of in the year , before me, a Notary Public in and for said County and State, personally appeared [Principal's Name], known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
Witness my hand and official seal.
[Notary Public's Name]
My Commission Expires:
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