DRAFTPOWER OF ATTORNEY

F (…), (…marital status…), born in the parish of……, holder of Identity Card number ….., issued on …. by the ……., taxpayer identification number …….., [and F (….),(…marital status…), born in ….., holder of Identity Card number ……, issued on …. by the……, taxpayer identification number ……, [possibly married to one another under the …… property system...... and both]] resident at Rua ……., in ……(...), (the Grantor):

The Grantor[s] hereby state[s]:

That by this power of attorney he/she [they] appoint[s] as attorney-in-fact Mr/Ms (…), (…marital status…), born in ……, holder of Identity Card number ….., issued on …. by the ……., taxpayer identification number …….., [and F (….), born in …… and resident at (….)], (the Attorney), to whom he/she grants [they grant] necessary and sufficient powers, for and on his/her [their] behalf, to carry out the following actions with Banco Best:

Remove the conditions that do not apply

Banking Products

  • To open on his/her [their] behalf a demand deposit account (‘Conta D/O’) with the Bank;
  • To operate the D/O accounts and handle all the assets and sums on deposit or to be deposited in the Bank, on behalf of the Grantor, to make cash withdrawals, issue payment orders and authorise transfers, to make and redeem investments, on demand or term, including deposits and financial instruments which may be deemed complex financial products or savings deposits;
  • To order, issue and endorse cheques.
  • To request and cancel debit and credit cards, and to enter into and sign the relevant agreements for their use and to cancel said agreements;
  • To authorise direct debit orders;
  • To sign payment orders to credit institutions and financial companies and to third parties, giving irrevocable instructions to make transfers in Portugal and abroad, within and outside the European Union area;

Financial Instruments

  • To sign agreements to register and deposit securities associated with the D/O Accounts;
  • To sell and buy on the regulated and other markets any financial instruments, precious metals and raw materials;
  • To trade financial instruments and contract the provision of investment services, [including portfolio management and investment consultancy], being obliged to supply information on his/her [their] knowledge of and experience in investment, with the capacity to issue orders to buy, sell or undertake any other kind of transaction, including in relation to financial instruments described as Complex, complex financial products, or where there is risk of loss of capital, even if the operation in question is not regarded as appropriate to his/her [their] investor nature.

Insurance and Pension Funds

  • The Grantor hereby authorises the Attorney to negotiate and contract life/non-life insurance of any kind and subscribe to any pension fund, share savings plan (PPA) and retirement savings plan (PPR) in the respective insurance companies or management companies provided that such insurance or pension fund is one in which the Bank acts as insurance intermediary, and to specify the beneficiaries as he/she [they] deem[s] fit and to redeem same under duly applicable terms and conditions.

Loans and Guarantees

  • To apply for, negotiate and contract any kind of credit operations, including loans, credit facilities or financing of any kind whatsoever, overdrafts, bank discounts, financial leasing or factoring operations and the provision of bank guarantees;
  • To sign confessions of debt;
  • To sign blank promissory notes and the relevant completion authorisation(s);
  • To provide as guarantee, for and on behalf of the Grantor, one or more times, as security for proper payment of all liabilities incurred, due or yet to fall due, a pledge on securities, bank accounts and other rights in favour of Banco Best, SA whenever the latter so requires, including powers of delegation, one or more times, in the interests of the Bank, the necessary and sufficient powers for the execution and extrajudicial sale (under Article 675(1) of the Civil Code) of the item pledged, the execution of registrations, endorsements, cancellations, and signing of all applications, forms and/or documents required by law for the full and proper achievement of the stated purposes.

[Other Powers

  • (…)
  • (…)]

General Provisions

  • To inform the Bank and change the domicile and relevant contacts for such communications as may be due under any agreements concluded;
  • To request and receive any documents, bank statements and correspondence relating to the account in question; to sign any receipt, to receive, check and approve any bank statement and to exonerate the Bank from any liability for and on behalf of the Grantor;
  • To generally carry out, request, declare and sign everything that may be deemed necessary and/or appropriate for the proper discharge of this power of attorney;
  • To close the Account and any other accounts which may be associated with it.

This power of attorney shall expire once the Bank is informed of the death, legal incapacity or insolvency of the Grantor.

This power of attorney is of indefinite duration and may be revoked at any time by the Grantors by means of registered letter with notification of receipt sent to Banco Best, S.A., Praça Marquês de Pombal, 3-3º, 1250-216 Lisboa, or delivered personally to any of the Bank’s Investment Centres, with such revocation taking effect on the third business day after its receipt.

I am fully aware of the powers assigned to the Attorney and I accept responsibility for the use of his/her powers, which may involve a risk of devaluation or loss of the sums invested.

-- They have so granted.

Place and date: ______

Signatures

NOTES:

  • To be executed through a private document with validation drawn up by a notary (which should consist of confirmation by the parties, before a notary, that the content of that document, which they fully understand, represents their intention – Articles 116, 150 and 151 of the Notary Code).
  • All text in italics should be removed
  • Text between [ ] is optional
  • The ‘powers’ should be chosen by the Customer and the power of attorney should only contain those which he/she intends to assign to the attorney
  • The item ‘Other Powers’ is only used if there is a specific situation that the customer expressly wants to include and which is not stated in the other clauses.

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