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Contact usGlossary – P
Power of attorney
1) The power of attorney is an unilateral act (usually in the form of a declaratory instrument), by which principal (represented) gives note to third parties that the authorized (representative) is authorized to act for him in particular matter.
2) The agreement, which is concluded between the p…
PRIBID
Prague Interbank Bid Rate shall mean the reference interest rate on the interbank deposit market calculated (fixed) by the calculation agent for the Czech Forex Club from the quotations of reference banks for the purchase of deposits (bid).
PRIBOR
Prague Interbank Offered Rate shall mean the reference interest rate on the interbank deposit market calculated (fixed) by the calculation agent for the Czech Forex Club from the quotations of reference banks for the sale of deposits (offer).
Principal (represented)
A person who has authorized another person a power of attorney to represent him in certain matters.
Procura
Power of attorney by which the the entrepreneur authorizes the proxy to all legal acts that occur in the operation of the company, even if they otherwise require special power of attorney.