A Business Authorization Letter (Vollmacht) is a crucial document in Austrian business practice that formally delegates authority from one party to another. This document is particularly important when companies need to authorize individuals to act on their behalf in various business transactions, sign documents, or represent the company in official matters. The letter must comply with Austrian Civil Code (ABGB) requirements and typically includes detailed information about both parties, specific powers granted, duration of authority, and any limitations. It's commonly used in situations where company representatives need to conduct business operations, handle administrative procedures, or manage specific transactions when the primary authority holders cannot be present. The document can be general or specific in nature, depending on the scope of authority needed, and may require notarization for certain types of authorizations.
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1. Place and Date: Location and date of execution of the authorization letter
2. Authorizing Party Details: Full legal name, registration number, address, and other identifying details of the company/person granting authorization
3. Authorized Representative Details: Full legal name, identification details, and address of the person being granted authorization
4. Scope of Authorization: Clear and specific description of the powers being granted and their limitations
5. Duration of Authority: Specification of the time period for which the authorization is valid
6. Signature Block: Space for authorized signatures, including company stamp if applicable
1. Power of Substitution: Section granting the authorized representative the right to delegate powers to others, used when such delegation might be necessary
2. Revocation Clause: Specific terms under which the authorization can be revoked, included when special revocation conditions are needed
3. Multiple Representative Provisions: Details on whether representatives must act jointly or individually, used when multiple representatives are being authorized
4. Specific Transaction Details: Details of specific transactions or matters for which the authorization is being granted, used for limited-scope authorizations
5. Governing Law Declaration: Explicit statement of Austrian law application, used particularly when the letter might be used internationally
1. List of Specific Powers: Detailed enumeration of specific powers and authorities being granted
2. Specimen Signature: Sample signature of the authorized representative for verification purposes
3. Corporate Resolution: Copy of the corporate resolution authorizing the granting of powers (if applicable)
4. Identification Documents: Copies of identification documents of the authorized representative
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