umboðs

Umboðs is a term used in Icelandic law and administration to refer to the authority given by a principal to another person to act on the principal’s behalf. The authority, or mandate, enables the agent to perform acts or manage affairs that legally bind the principal within the scope of the granted power. In practice, umboðs can cover a wide range of tasks, from signing contracts and handling property transactions to representing a company in negotiations or public procedures.

The person who holds the authority is known as an umboðsmenn or umboðsmaður, and the instrument through which authority is conferred is often called an umboð or an umboðssamningur. The arrangement can be general, allowing broad discretion, or specific, limited to particular acts or a defined time period. An umboð is typically revocable by the principal, subject to any agreed terms or applicable law.

Duties of the agent include loyalty to the principal, proper care, and accounting for actions taken within the scope of the umboð. Acts performed within the granted authority generally bind the principal as if the principal had acted personally. If the agent exceeds the authority, the principal may not be bound, and the agent may bear liability for overstepping the mandate.

In commercial and governmental contexts, umboðs arrangements facilitate delegation and efficiency, enabling representation in negotiations, transactions, and administrative processes without the principal’s direct involvement in every step. See also: umboðsmaður, fullmakt, lögfræði.