BULGARIA-COMMERCIAL-LAW

General action authority - the agent is entitled to effect all commercial transactions related to the normal business operations of the merchant's enterprise... Explicit action authority - according to Article 26 (2) of the Commercial Code, the agent is not authorized to alienate or encumber real estate property, to accept bills of exchange, to obtain a loan or to engage in litigation. Regarding these actions, there must be an explicit action authority... The legal form of the commercial agent is regulated in Article 26 of the Commercial Code. The agency is a form of commercial representation too, though the extent of the mandate is more limited in comparison to the procuration. The agent is a legally competent, natural person or legal entity that is authorized by the merchant to perform the acts set forth in the mandate for compensation. Contrary to the procuration, the content of the authorisation is not defined by the law but by the mandate.

Primary location: Sofia Bulgaria