EMPOWERED REPRESENTATIVES Clause Samples
The EMPOWERED REPRESENTATIVES clause designates specific individuals or roles within each party who are authorized to make decisions and act on behalf of their respective organizations under the agreement. In practice, this means that only these named representatives can approve changes, provide official notices, or resolve issues related to the contract, ensuring that communications and decisions are made by those with proper authority. This clause helps prevent misunderstandings and unauthorized commitments by clearly identifying who holds decision-making power, thereby streamlining interactions and safeguarding both parties from potential disputes over authority.
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EMPOWERED REPRESENTATIVES representatives sent to the mediation shall be empowered or have sufficient delegated authority to resolve, compromise, negotiate or settle the Dispute submitted to mediation, without seeking further instructions or approvals from any superiors or committees / corporate structures, unless the nature, seriousness or financial quantum of the Dispute by law or corporate policies or practices requires approval from the respective corporate or government structure. In such event, such approval shall be obtained within five (5) business days of the proffer of any settlement offer;