The amount of powers is the document that proves the verification by an Entity that the faculties or powers of one or several individuals are sufficient to act on behalf of a certain legal entity in the performance of certain actions before another Entity, the Public Administration and/or its Organisms.
Any Credit Institution, for example before proceeding to open an account in the name of a company, and allowing it to operate or to perform other actions on behalf of and on behalf of another Entity, will request the corresponding powers, which must have been granted. before a notary and registered in the Mercantile Register. These powers will appear in the articles of incorporation, as well as in any other deed of empowerment that has been granted by the company.
The process of studying the deeds of empowerment carried out by the Credit Entities is called enoughar and allows determining the extent, scope and limitations granted by the company to its attorneys. This study ends with the so-called “enougho”, which states that the powers presented by the Entity are sufficient to represent it.
Basically, the information contained in the enougho answers the questions Who can act on behalf of the company? What kind of actions can you make or request? And how should you act, if you can act only with your signature or your signature those of other representatives of the company?
Therefore, the enougho allows to identify who and under what conditions (limits of disposition, number of signatures necessary to operate, etc.) can act in the name of society. For example, a company may determine that in order to sign a check, contract a loan- you won’t regret it, close an account, the signatures of two of its attorneys are necessary, while to enter into account only the signature of one of them is necessary.
Documentation required to do enough
In general, the documentation required is as follows:
- • Deed in which the power of attorney has been formalized in favor of the proxy, or as the case may be, deed of appointment of an administrator of the mercantile.
- • Proxy DNI.
- • Deed of incorporation of the Mercantile.
- • The deed must be registered in the Mercantile Registry (unless it is a special power of attorney for a specific file).
What is it for?
The enougho allows the Entity to be sure that it is correctly identified before the Credit Institution, the Public Administration and/or its Organisms, so that a non-legitimated third party cannot act on their behalf and, on the other hand, allows to justify suitably the operations carried out with another Entity. Logically, in order for everything to work properly, the Entity must periodically update the information of its agents, and communicate any changes that may occur in this regard.