Mandate

From ACT Wiki
Jump to: navigation, search

1.

An authoritative command or instruction, for example one given to a bank by its customer.


2.

An account (or bank) mandate completed by a customer to open a new bank account. The mandate specifies which individuals in the customer organisation are authorised to act on the account, in what capacity and up to what limits.


3.

Agreements regulating the dealing relationship between an organisation and its counterparties, authorising people to conduct transactions, possibly applying limits to the size of deals and procedures concerning settlement, and regulating the opening and closing of transactions.

Mandates are a key element of treasury controls and are an essential mechanism for reducing an organisation's dealing risk.

Also known as 'dealing mandates'.


4.

A bond mandate.


5.

Any similar mandate, for example a USPP mandate.


See also