Clear Scope of Authority
The agency relationship between I & P CORP LTD and P & A CORP LTD extends to all areas of their business operations, including but not limited to contract negotiation, partnership agreements, and regulatory compliance. Both companies ensure that the scope of authority is well-defined to avoid ambiguity and maintain accountability. The mutual authorisation is periodically reviewed to ensure it remains aligned with the evolving business needs of both companies.
Transparent Communication
To maintain transparency and ensure both entities are acting within their scope, I & P CORP LTD and P & A CORP LTD will implement regular communication protocols. This includes detailed reporting and documentation of any actions taken on behalf of the other company, ensuring that all stakeholders are aware of the activities carried out by the agent.
Legal Compliance and Governance
Both companies are committed to adhering to UK legal requirements and best practices for corporate governance. As part of this commitment, any agreements or transactions executed by one company on behalf of the other will be done in compliance with the Companies Act 2006 and other applicable regulations. All agency actions are subject to the approval of the respective boards, ensuring that each action reflects the best interests of both companies.
Risk Management and Liability
I & P CORP LTD and P & A CORP LTD have implemented risk management strategies to safeguard against potential liabilities arising from the agency relationship. Both companies agree that, when acting as an agent, they will operate with the highest levels of integrity and accountability. In the event of any disputes or issues arising from actions taken by either company on behalf of the other, a clearly defined dispute resolution process will be followed to ensure swift and equitable outcomes.
Confidentiality and Data Protection
In their mutual role as agents, both companies are bound by strict confidentiality agreements. Any sensitive or proprietary information shared between I & P CORP LTD and P & A CORP LTD will be protected in accordance with the General Data Protection Regulation (GDPR) and other relevant data protection laws. Each company commits to handling data with the highest level of security and confidentiality.
Periodic Review and Audit
To ensure ongoing effectiveness and adherence to the terms of this agency relationship, both companies agree to conduct periodic reviews and audits. These reviews will help assess the performance and compliance of each party in their capacity as an agent. Any necessary adjustments to the scope of authority or the terms of the agency relationship will be implemented following these audits.
© Copyright 2024, All Rights Reserved by I & P CORP LTD.
Registered in England No. 15953458.
P & A CORP LTD.
Registered in England No. 15319026.
This Confirmation Statement formally recognises the mutual authorisation for I & P CORP LTD and P & A CORP LTD to act as agents for each other.