Corporate_Power_of_Attorney.docx
DOCX document 4 MB Posted
- Solicitation number
- 26-06
- Issued by
- Walton County, Florida
About this file
This is a Corporate Power of Attorney template document issued by a surety company that authorizes a designated attorney-in-fact to execute bonds and other obligatory instruments on the surety company's behalf. The document establishes the legal framework for the appointed individual to act as the surety company's representative in executing various types of bonds and contracts, subject to a specified liability limitation per single instrument. The power of attorney requires execution by a corporate officer (President or Vice President) and authentication by the company's Secretary through a Certificate of Authenticity, confirming the document remains in full force and effect. This template is designed for use in bonding transactions where the surety company authorizes a specific individual to bind the company to contractual obligations up to the stated dollar limit.
The document serves as a standard form used in procurement and contracting scenarios where surety bonds are required. The liability limitation is customizable based on the surety company's underwriting policies and the specific bonding requirements of the contract being supported. The power of attorney requires formal corporate authorization through board-adopted bylaws and a Board resolution, ensuring proper governance and internal controls are maintained. This document would typically be submitted as supporting documentation in bid packages or contract negotiations where performance or payment bonds are a condition of award, demonstrating the surety company's commitment to stand behind the contractor's obligations.
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Text version
CORPORATE POWER OF ATTORNEY
[Name of Surety Company] Home Office: [Address, City, State, Zip]
KNOW ALL MEN BY THESE PRESENTS:
That the [Name of Surety Company], a corporation organized and existing under the laws of the State of [State], having its principal office in [City, State], does hereby constitute and appoint:
[Name of Individual Appointed as Attorney-in-Fact] of [City, State/Agency Name], its true and lawful Attorney-in-Fact, to make, execute, seal, and deliver for and on its behalf as surety, and as its act and deed, any and all bonds, undertakings, recognizances, contracts of indemnity, and other writings obligatory in the nature thereof, provided that the liability of the Company as surety on any single instrument shall not exceed the sum of:
LIMITATION: $[Dollar Amount, e.g., $5,000,000.00]
AUTHORITY AND RATIFICATION
This appointment is made under and by authority of the following Bylaws adopted by the Board of Directors of the Company on [Date of Bylaw Adoption]:
This Power of Attorney is signed and sealed by authority of the following resolution:
EXECUTION
IN WITNESS WHEREOF, [Name of Surety Company] has caused these presents to be signed by its proper officer and its corporate seal to be hereunto affixed this________ day of ______________, 20___.
[Name], President/Vice President
[AFFIX CORPORATE SEAL]
CERTIFICATE OF AUTHENTICITY
I, [Name of Secretary], Secretary of [Name of Surety Company], do hereby certify that the foregoing is a true and correct copy of the Power of Attorney executed by said Company, which is still in full force and effect.
Signed and Sealed this _____ day of _________, 20___.
[Name], Secretary
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