In life, situations often happen when the time to get documents, money or perform another action is sorely lacking. In such cases, on the basis of a power of attorney, another person can solve the necessary issues for you. A power of attorney to receive money or other values is a document issued by a citizen to another person in order to receive a certain amount of money or property from an organization, institution or individual.
Features of the procedure
The procedure for issuing a power of attorney to receive funds is stipulated in the Civil Code. Clients can be both an individual and an organization. It should be noted that the form of the document must be written. As a general rule, a power of attorney to receive money must be certified at a notary's office. The validity of such a document cannot be more than 36 months. If the termination date is not specified, it will be considered valid for a year. If the date of its conclusion is not specified in the power of attorney, then such a document shall be considered invalid.
If a representative needs to pick up a deposit or other money in a financial institution, then the bank's power of attorney can be assured by employees of the banking institution. This action is free. If a sum of money or correspondence must be obtained from communication organizations, then a power of attorney can be issued directly on the spot, without first contacting a notary.
Power of Attorney
The power of attorney to receive money or other valuables must contain the following information:
- Information about the representative and the principal (name, official and actual place of residence, passport details). If the power of attorney is executed by a legal entity, then data on state registration are provided, as well as the location of the governing body, taxpayer number, etc.
- The locality where the power of attorney and date are.
- The list of powers that the representative will have.
- The time period required to complete the order.
- If the principal is an organization, you need to put a stamp.
- Other information.
Types of Power of Attorney
The following types of such a document are indicated in the Civil Code:
- one-time power of attorney (performing one action only once);
- special assignment (the representative performs the same type of operations for a certain time);
- general power of attorney (gives authority to dispose of all property of the principal or to completely conduct business of the company, if it is a legal entity)
In addition to the types, there are two forms of the power of attorney: simple written (in print or written by hand) and notarized.
Termination of Power of Attorney
A power of attorney to receive money (documents, property, etc.) may terminate in case of:
- Expiration date.
- Failure of the trustee to exercise his powers.
- The death of the principal or attorney.
- Cancellation of a power of attorney by decision of the person who issued it.
- In some other cases.