vakolatnoma

Vakolatnoma is a legal document originating from Uzbek law that serves as a power of attorney. It grants one person (the agent or attorney-in-fact) the authority to act on behalf of another person (the principal) in various legal and financial matters. The scope of authority can be broad, encompassing actions such as signing contracts, managing property, conducting business transactions, or representing the principal in legal proceedings.

A vakolatnoma typically specifies the extent of the agent's powers, the duration for which the authority is valid, and the specific actions the agent is permitted to undertake. It is a crucial document for situations where an individual is unable to personally attend to their affairs due to absence, illness, or other reasons.

To be legally valid, a vakolatnoma must usually be notarized. This notarization process confirms the identity of the principal and verifies that they are signing the document voluntarily and with full understanding of its implications. The requirements for a valid vakolatnoma, including the specific wording and notarization procedures, are governed by the civil code and other relevant legislation of Uzbekistan. The document provides a formal framework for delegated authority, ensuring that actions taken by the agent are legally binding for the principal.