As for an authorized representative, as I said earlier, this is a person to whom the partners or the same single board of directors/directors grant a power of attorney in accordance with the applicable law in this regard. That is, an agent is not an “official” of the company. Power is an original legal institution of Peruvian civil law, since its application is fully exercised in a society increasingly motivated by its economic growth and with it by the constant lack of time of natural and legal persons. For these reasons, it is permissible to delegate or authorize various personal, contractual and procedural activities, which means saving time and money, allowing the exchange of smooth civil and contractual relations and in strict compliance with the principle of legal certainty. The Spanish lawyer ±ol Dãez-Picazo and Ponce de Leã³n (2004) points out that `on the contrary, representation confers on the representative the power to make a declaration of intent before third parties on behalf of the contracting authority` (p. 421). For entrepreneurs who want to start a business abroad, it is important to research, understand and comply with local laws and regulations. In Peru, legislative decrees on the legal representation and legal representative of companies have recently been introduced. It is the person with whom the representative celebrates the legal act entrusted to him by the representative. In 2018, the Peruvian government introduced two decrees relating to legal representation. The first is Legislative Decree 1422, which establishes the joint responsibility of a legal representative in Peru. In this context, Rivas Caso (2017) states: “With regard to the renunciation of power, the doctrine considers it in civil law as a case of deprivation of power. This extinction occurs by©a unilateral and receptive act.
All this is based on the fact that the breach of trust between the representative and the person represented is sufficient to extinguish power©by his resignation (p. 222). Article 37[12] of the Peruvian Law on Arbitration (Legislative Decree No. 1071) regulates the power of attorney, which is covered by general characteristics and without major formalities (legalization and / or public document) and requires that the parties have the power of attorney exclusively in writing, which, according to a systematic interpretation, can be granted by the agent and / or the legal representative in the contract or its supplements, in the request for arbitration or in its response, is indicated in the establishment hearing of the arbitral tribunal, in the statements of claims and responses, and even at each stage of the arbitration. A legal representative is the legal face of a company and having one is a legal requirement before local authorities in Peru. The agent acts on behalf of the owner or employees of the company to perform various procedures, such as signing contracts and making decisions in the best interest of the company. In addition, companies grant their legal representative the power to meet the commercial obligations and even the rights of their representatives in accordance with the terms agreed in their contract. As the first obligation of the representative, the norm of paragraph a specifies the duty of loyalty, loyalty and restraint. It is therefore noted that, in the exercise of his functions, the representative must represent the interests of the person represented, acting with the care and good faith of a good businessman, giving priority to the interests of the latter also over his personal© interests (Garrido, Borda, & Alferillo, 2015, p.
401). Once such a single board of directors or director has been appointed by the shareholders, the persons appointed are the legal representatives of the company. For investors wondering how to appoint a legal representative in Peru, the requirements are simple. Any natural person over the age of 18 or a legal person may be appointed as a legal representative. A foreigner may be appointed as a legal representative as long as he has a legal authorization to reside and work in Peru. The most typical case of a legal representative is when X number of persons form a company (the partners) and in accordance with general commercial company law, it is stipulated in the articles of association that the company is managed by a board of directors or a single director. Later in the articles, it is customary to establish a list of powers that will have such a board of directors or a single director.
