A mandant refers to an individual or entity that grants authority or power to another person, known as a mandatary or agent, to act on their behalf. The term primarily finds usage in legal contexts, such as contractual relations, agency agreements, or power of attorney arrangements.
A mandant is the principal or the person conferring the authority, while a mandatary becomes the representative or agent and assumes the responsibility of carrying out specific tasks or making decisions as delegated by the mandant. The relationship between a mandant and mandatary typically stems from a mutual agreement, where the mandant grants the mandatary the legal capacity to act on their behalf and fulfill specified obligations.
The mandate given by the mandant usually outlines the scope and limits of the authority, defining the parameters within which the mandatary can operate. The mandatary is bound by the fiduciary duty to act in the best interests of the mandant, exercising reasonable care, skill, and diligence while performing delegated actions. In turn, the mandant holds responsibility for any obligations or liabilities resulting from the actions of the mandatary within the scope of the agreed-upon mandate.
The mandant-mandatary relationship is crucial in legal and business contexts, facilitating efficient delegation of authority and representation. By entrusting a mandatary with decision-making powers, the mandant benefits from professional expertise, time-saving, and the ability to conduct business or engage in legal matters without direct involvement.
