POWER OF ATTORNEY FOR BANK
I, __________, son/daughter/wife of __________, residing at __________ (the "Principal"), the holder of the account(s) described below, do hereby appoint, constitute and nominate:
__________, son/daughter/wife of __________, of __________ (the "Attorney"),
to be my true and lawful attorney, in my name and on my behalf, solely for the banking purposes described below, upon the terms of this Power.
- THE BANK AND THE ACCOUNT(S)
1.1 This Power relates to the account(s) held by the Principal with __________, __________ (the "Bank"), being: __________.
1.2 The Attorney has no authority under this Power over any account, deposit or facility of the Principal not named above, or held with any bank other than the Bank named above.
- POWERS GRANTED
2.1 The Attorney may __________.
- THE BANK'S OWN REQUIREMENTS
3.1 This Power does not itself satisfy the Bank's know-your-customer requirements for the Attorney; the Attorney shall separately complete whatever identification and verification the Bank requires before operating the account(s).
3.2 Where the Bank's own printed or digital power of attorney format differs from this document, the Principal shall, if the Bank insists, execute the Bank's own format in addition to or instead of this Power, without that affecting the validity of this Power for any purpose outside that Bank's internal requirement.
- NOT IRREVOCABLE
4.1 This is an ordinary power of attorney. It is revocable by the Principal at any time by written notice to the Attorney and to the Bank, under s.203 of the Indian Contract Act, 1872, and it terminates automatically on the Principal's death, under s.201 of that Act, whatever clause 5 below says about its stated duration. It is not granted as a power coupled with interest and no term of this Power should be read as attempting to make it one.
- DURATION
5.1 __________
- GENERAL
6.1 The Attorney shall act honestly and in the Principal's interest, and shall keep the Principal reasonably informed of transactions carried out under this Power.
6.2 The Attorney may not sub-delegate this Power to another person.
6.3 This Power is governed by the laws of India, and the courts at __________ alone have jurisdiction over any dispute arising from it.
6.4 If any provision of this Power is held invalid or unenforceable, the rest continues in effect.
IN WITNESS WHEREOF the Principal has executed this Power of Attorney at __________ on __________.
SIGNED AND DELIVERED by the PRINCIPAL
__________
Signature: ______________________________
ACCEPTED by the ATTORNEY
__________
Signature: ______________________________
WITNESSES
- __________
__________
Signature: ______________________________
- __________
__________
Signature: ______________________________