A contract of mandate is a legal document that outlines the relationship between two parties, the principal and the mandatary. The principal is an individual or an organization that authorizes the mandatary to act on their behalf, while the mandatary is the person who assumes the responsibility of carrying out the tasks assigned to them by the principal.
When drafting a contract of mandate, it`s essential to understand the essential elements that it should contain. These elements are as follows:
1. Identification of the parties: This section should contain the full names and addresses of both the principal and the mandatary.
2. Scope of mandate: This section should specify the tasks that the mandatary is authorized to perform on behalf of the principal. It`s essential to be as detailed as possible to avoid any misunderstandings or disputes in the future.
3. Duration of mandate: This section should specify the length of time that the mandate will be in effect. It could be for a specific period or until the completion of the assigned tasks.
4. Compensation: This section should specify the payment terms and the amount that the mandatary will receive for their services.
5. Termination of mandate: This section should outline the conditions under which the mandate could be terminated, either by the principal or the mandatary.
Here`s an example of a contract of mandate:
CONTRACT OF MANDATE
This agreement is made on [Date] between [Name and Address of Principal] (hereinafter referred to as the «Principal») and [Name and Address of Mandatary] (hereinafter referred to as the «Mandatary»).
WHEREAS the Principal desires to authorize the Mandatary to act on their behalf for the specific tasks outlined in this contract, and the Mandatary agrees to assume these responsibilities.
NOW, THEREFORE, the parties agree as follows:
1. Identification of the parties: The Principal is [Name and Address], and the Mandatary is [Name and Address].
2. Scope of mandate: The Mandatary is authorized to [insert a detailed description of the tasks that the Mandatary is authorized to perform on behalf of the Principal].
3. Duration of mandate: The mandate shall remain in effect until the completion of the assigned tasks.
4. Compensation: The Mandatary shall receive [insert the amount of compensation that the Mandatary will receive for their services].
5. Termination of mandate: The mandate may be terminated by either party upon [insert the conditions under which the mandate could be terminated].
IN WITNESS WHEREOF, the parties have executed this contract of mandate on the day and year first above written.
[Signature of Principal] [Signature of Mandatary]
[Printed Name of Principal] [Printed Name of Mandatary]