Power of Attorney (authorization) vs mandate contract in Vietnam

 Power of attorney (authorization) is a document in which individuals, representatives at law of legal entities authorize other persons to represent or act on his (her) behalf in establishment and/or performance of civil transactions.

 A mandate contract is an agreement between the parties whereby the mandatary shall have the obligation to perform a task on behalf of the mandator, and the mandator shall only have to pay remuneration, if so agreed upon or provided for by law.

Power of Attorney (authorization) vs mandate contract in Vietnam

A. There are some common points from Power of Attorney (Authorization) vs mandate contract in Vietnam:

1. Authorization form: Both are made in writing.

2. Authorization content: The Agent (Mandatary) will be a representative the Principal (Mandator) to establish and/or perform the civil transactions.

3. Termination of authorization: Each party may unilaterally terminate authorization or under law.

B. There are some differences between Power of Attorney (Authorization) vs Mandate contract in Vietnam:

1. The authorization subjects:

 a. Power of Attorney is made and signed by the Principal (or called an unilateral authorization)

 b. The mandate contract shall be made and signed by Mandatary and Mandator

2. Notarization and authentication (if any):

 a. Power of attorney (authorization) may be authenticated by competent authorities (People Committee of ward or district level, diplomatic missions)

 b. The mandate contract may be notarized by notary authorities (Notary Agencies, the Notary Offices, and diplomatic missions)

3. The rights and obligations of the parties:

 a. Power of attorney (authorization) does not regulate the rights and obligations of the parties

 b. Authorized contract stipulates the rights and obligations of the parties.

4. Amendment of authorization contents:

 a. An authenticated Power of Attorney (Authorization) may be amended and authenticated its amendment at any competent authorities (People Committee of ward or district level, diplomatic missions)

 b. The notarized mandate contract shall be amended and notarized its amendment just only at previous notary authority.

5. Sub-mandate or sub-agent:

 a. Power of Attorney: The agent is not delegate authorization, unless otherwise specified by law.

 b. Mandate contract: The mandatary shall be entitled to submandate a third party only if so consented by the mandator or so provided for by law.

6.  Time limit of authorization:

 a. Power of Attorney: Time limit of authorization may be determined by the Principal or provided by law.

 b. Mandate contract: The time limit of mandate shall be agreed upon by the parties or provided for by law; if there is no agreement or no legal provisions theron, the mandate contract shall be effective for one year as from the date the mandate is established.

 In civil transactions, it may use the the power of attorney (authorization) and/or mandate contract in Vietnam appropriately for each particular case.

Lawyervn.net

Related posted texts:

- Mandate contracts in Vietnam, Click here

- Power of attorney (authorization) in Vietnam, Click here