Procuration 2025

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Definition: Per procurationem means by proxy in Latin. It is often abbreviated as per pro, p. proc., p. pro., or p.p. This term is used to indicate that someone is acting on behalf of another person, usually with their permission.
More About Procuration When used in a general way, the word procurement is more commonly used to mean the same thing. Procurement most commonly refers to the formal, official process of purchasing and obtaining materials, supplies, or equipment, especially in the context of business or government.
Procuration is also used specifically for the negotiation of a loan by an agent for his client, whether by mortgage or otherwise, and the sum of money or commission paid for negotiating it is frequently termed the procuration fee.
noun. proc​u​ra​tion ˌpr-kyə-ˈrā-shən. 1. a. : the act of appointing another as ones agent or attorney.
: the act of appointing another as ones agent or attorney. b. : the authority vested in one so appointed. 2. : the action of obtaining something (such as supplies) : procurement.
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A power of attorney (procuration) is an authority of wide range given to an employee of a company. Except for just a few restrictions (e.g. alienation of properties or closing the company) these proxies are entitled to finalize all legal transaction within a company.

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