A General Power of Attorney is a legal document whereby one person called the Principal gives another person called the agent or attorney-in-fact the power to manage the Principal's assets and financial affairs while the Principal is alive. Power can be given to the agent to do any and all acts the Principal can perform. The Principal should have the required legal capacity to give the agent clear and concise instructions. The appointment may be for a fixed period and can be revoked at any time by the Principal provided the principal still has the legal capacity to do so. Source: definitions.uslegal.com
GENERAL POWER OF ATTORNEY
I, _______________________________, of legal age, Filipino citizen, single with residence and postal address at _______________________________________________, after having been sworn in accordance with law, hereby depose and state that:
- To exercise administration, general control and supervision over my/our business and property in the Philippines, and to act as my/our general representative(s) and agent(s) with full authority to buy, sell, negotiate, and contract for me/us and my/our behalf;
- To ask, demand, sue for, recover, and receive all sums of money, debts, dues, goods, wares, merchandise, chattels, effects and things of whatsoever nature or description, which now or hereafter shall be or become due, owing, payable or belonging to me/us, in or by any right, title, ways or means howsoever, and upon receipt thereof or any part thereof, to make, sign, execute and deliver such receipts, releases or other discharges;
- To buy or otherwise acquire, to hire or lease, and to pledge or otherwise hypothecate, assign, and to dispose of, any or all of my/our personal property or any interest therein, upon such terms and conditions, and under such covenants, my/our attorney(s) shall dim fit or proper, and to execute in my/our name(s) any and all papers relating thereto, and to sign, execute, acknowledge and deliver any and all agreements, or other writings therefore, or in any way connected therewith, or with any business or property;
- To deposit money and to withdraw same by check, receipt, draft or otherwise in any bank in my/our name(s), to sign, endorse, draw, accept, make, execute, deliver and pay checks, drafts, bills of exchanges, promissory notes, letters of credit, quarantees, and all other writings, contracts and agreements;
- To borrow any sum or sums of money that are urgent and indispensable for the prevention of things which are under his/their administration on such terms, conditions, and stipulations, and on such security, as my/our attorney(s) may think fit for that purpose; to execute all promissory notes, bonds, mortgages, and other instruments which maybe necessary and proper;
- To settle any account or reckoning whatsoever wherein I am/we are, or at any time hereafter shall be in anywise, interested or are concerned with any person whomsoever, and to pay or receive the balance thereof as the case may be;
- To compound with or make allowances to any person for and in respect to any debts or demand whatsoever which now is or shall any time hereafter become due and payable to me/us, and to take and receive any composition or dividend thereof or thereupon and to give releases or other discharges for the whole of such debts or demands, or to settle, compromise or submit to arbitration every such debts or demand and every other right, matter and thing due to or concerning me/us as my/our attorney(s) may deem advisable in the premises;
- To make, sign, seal, execute and deliver contracts, documents, agreements and other writings upon such terms and conditions acceptable to my/our said attorney(s);
- In general, to do all other acts, deeds, matters and things whatsoever, in or about my/our estate, property and affairs, or to concur with persons jointly interested with myself/ourselves therein doing all acts, deeds, matters, and things herein, either particularly or generally described, as fully and effectually to all intents and purposes as I/we could do in my/our proper person(s) if personally present.
HEREBY GIVING AND GRANTING unto my/our said attorney(s) full power and authority whatsoever requisite or proper to be done in or about the premises, as fully to all intents and purposes as I/we might or could lawfully do if personally present, and hereby certifying and confirming all that my/our said attorney(s) shall do or cause to be done under these presents.
IN WITNESS WHEREOF, I/We have hereunto set my hand(s) this _________ day of ______________ at _______________________.
With my confirmity:
Signed in the presence of:
City of _____________________ ) S.S.
BEFORE ME, a Notary Public for and in the city of _________________ this _________ day of ______________ personally came and appeared _______________________ with Passport No. 12345678 issued on 08 June 2018 in Manila known to me to be the same person who executed the foregoing Special Power of Attorney and acknowledged to me the same is his/her free and voluntary act and deed.
WITNESS MY HAND AND NOTARIAL SEAL
Page No. _____
Book No. _____
Series of 2018.