Procuration

Procuration refers to the act of obtaining or procuring something, typically a service, product, or benefit, for someone else, often through legal or formal means. It implies acting as an agent or representative, authorized to act on another's behalf, and frequently involves a formal power of attorney or authorization. This process may be associated with financial transactions, legal proceedings, or management tasks, and relies on trust, responsibility, and clearly defined parameters of action. It ensures actions are taken within a legally compliant framework, and maintains accountability in transactions.

Procuration meaning with examples

• After her father became ill, Sarah obtained procuration, enabling her to manage his financial affairs. This allowed her to pay his bills, handle his investments, and oversee his healthcare, ensuring his needs were met while he recovered. The bank recognized the legal document, allowing her to manage her father's financial assets.
• The company granted procuration to a solicitor, authorizing them to represent the company in court. This empowered the solicitor to file lawsuits, negotiate settlements, and argue legal points. They had clear guidelines within the power of attorney and the solicitor acted as their agent.
• During the CEO's absence, the CFO was granted procuration to make important business decisions. This allowed him to approve contracts, negotiate with suppliers, and oversee daily operations until the CEO's return. It ensured business continued to operate and make decisions seamlessly.
• The estate executor was given procuration to settle the deceased’s affairs, including selling assets and distributing funds. This involved dealing with banks, the tax authorities, and beneficiaries. procuration here enabled the administrator to fulfil the wishes stated in the will in their representative role.