This type of document is very similar to Power of Attorney. The Power of Attorney provides some power to an officer of the entity to represent the company in a foreign country when doing business. However, the Certificate of Incumbency grants different powers and rights than does the Power of Attorney.
This certificate is signed by a company officer or Secretary, other than the incumbent, and this document proves that an authorized officer of the company has the authority and capacity to sign and issue documents on behalf of the business in question in the specific matter at hand. It can confirm the names of shareholders as well as directors and provide the specimen of their signatures when required. Also, it lists the specific applicable rights and privileges. For example, if the corporation or company needs to open a Representative Office in Uzbekistan, the incumbency will list any and all the papers which the officer may sign and issue. The officer may be able to be given Power of Attorney to register a Representative Office but he will not be given the power to make unlimited withdrawals for a Corporate Bank account, since it does not have any relation to the task.
That’s why this is important. Foreign authorities will be looking to receive Certificate of Incumbency as it is usually a requirement when conducting any type of business in foreign countries: this document is especially helpful as it specifically outlines responsibilities for the officers that will conduct business abroad; it also proves that the person that signed the paperwork for the company and on behalf of the company is legitimately authorized to do so and can endorse transactions of a legal nature. This is key for foreign agencies because this is its main purpose: it is a document that is drafted to principally confirm the identities of certain signing officers of a company.
For the foreign authorities it is a crucial document in establishing the fact that the corporate documents presented to them by the Representative of the company are genuine and valid. This certificate proves that this is the will of the corporation versus being born from an interest of a particular employee that is attempting to work without permission from the Board of Directors in pursuit of his/her own goals. That is why this record is crucial. It determines the authorities of the officers and comes from the internal corporation’s document processes.
Other frequently used names
Like some other important documents that we offer service for the Certificate of Incumbency has several other given names. For starters it is also known as an Incumbency Certificate or another name is a Certificate of Officers or an Officer Certificate or a Register of Directors as well as a Secretary Certificate to mention a few.