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Irrevocable Letter Of Authority for Ireland

Irrevocable Letter Of Authority Template for Ireland

A comprehensive legal document governed by Irish law that grants specific, irrevocable powers from one party (the grantor) to another (the grantee). This document establishes a binding commitment that cannot be unilaterally revoked, providing the grantee with clearly defined authorities to act on behalf of the grantor. The document is structured according to Irish legal requirements and typically includes detailed specifications of the powers granted, duration of authority, and explicit statements regarding its irrevocable nature. It serves as a powerful legal instrument that provides certainty and security for both parties, particularly in situations requiring long-term or permanent delegation of authority.

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Irrevocable Letter Of Authority

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What is a Irrevocable Letter Of Authority?

The Irrevocable Letter of Authority is a critical legal instrument used in situations where permanent and unwavering authorization is required between parties under Irish law. It is commonly employed in financial transactions, property dealings, corporate governance, and other scenarios where the grantor needs to provide absolute assurance that the authority granted cannot be withdrawn. This document differs from standard authorizations or powers of attorney in that it cannot be revoked by the grantor, providing enhanced security and certainty for the grantee and any third parties relying on the authority. The document must comply with specific requirements under Irish law to ensure its validity and enforceability, including proper execution, witnessing, and clear specification of the scope of authority granted. It is particularly useful in commercial arrangements where the irrevocable nature of the authority is essential to the underlying transaction or relationship.

What sections should be included in a Irrevocable Letter Of Authority?

1. Date and Parties: Full identification of the grantor and the grantee of the authority, including their legal names, addresses, and any relevant registration numbers

2. Declaration of Authority: Clear statement that the grantor is giving authority to the grantee, including the irrevocable nature of the authority

3. Scope of Authority: Detailed description of the powers being granted and what actions the grantee is authorized to take

4. Duration: Specification of the time period for which the authority is valid, including start date and any end date if applicable

5. Irrevocability Clause: Explicit statement that the authority cannot be revoked, with specific legal language required under Irish law

6. Governing Law: Statement that the letter is governed by Irish law

7. Execution Block: Space for signatures, witness details, and dates of execution

What sections are optional to include in a Irrevocable Letter Of Authority?

1. Recitals: Background information explaining the context and reasons for granting the authority - used when additional context is needed

2. Indemnification: Provisions protecting the grantee from liability when acting under the authority - included when requested by the grantee

3. Third Party Rights: Provisions regarding how third parties can rely on the authority - included when the authority will be used with multiple third parties

4. Reporting Requirements: Obligations of the grantee to report on actions taken under the authority - included when ongoing oversight is required

5. Substitute Authority: Provisions allowing the grantee to delegate authority - included when delegation might be necessary

6. Notices: Communication procedures between parties - included for longer-term authorities requiring ongoing communication

What schedules should be included in a Irrevocable Letter Of Authority?

1. Schedule 1 - Specific Powers: Detailed list of specific actions and powers being granted, particularly useful when the authority covers multiple areas

2. Schedule 2 - Authorized Representatives: List of specific individuals authorized to act on behalf of the grantee, if applicable

3. Schedule 3 - Form of Delegation: Template for delegating authority to others if substitute authority is permitted

4. Appendix A - Required Forms: Any standard forms or documents that must be used when exercising the authority

5. Appendix B - Specimen Signatures: Sample signatures of authorized persons for verification purposes

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Sector

Banking

Cost

Free to use
Relevant legal definitions




















Clauses




















Relevant Industries

Financial Services

Banking

Real Estate

Corporate Services

Investment Management

Legal Services

Insurance

Asset Management

Property Management

Trust Services

Professional Services

Healthcare Administration

Education Administration

Relevant Teams

Legal

Compliance

Corporate Governance

Risk Management

Operations

Document Management

Corporate Services

Financial Control

Treasury

Asset Management

Property Administration

Trust Administration

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Legal Counsel

Compliance Officer

Property Manager

Trust Officer

Financial Controller

Operations Director

Risk Manager

Corporate Governance Officer

Portfolio Manager

Investment Director

Banking Relationship Manager

Power of Attorney Administrator

Legal Operations Manager

Document Control Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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