Machine-readable powers of attorney and their impact on the process of concluding of electronic contracts following procurement procedures

Addressing the issue of using machine-readable powers of attorney in the field of corporate procurement is very relevant in the light of the introduction of advanced technological solutions in various areas of public life. Machine-readable powers of attorney can be automatically processed by information systems, which greatly simplifies the procedures for concluding electronic contracts and increases their transparency compared to traditional paper counterparts. The article examines the impact of machine-readable powers of attorney on the process of concluding electronic contracts in the field of corporate procurement, as well as analyzes the potential risks of their implementation. Electronic powers of attorney appeared as a response to the need to simplify legal procedures. The article proposes to amend the norms of civil legislation to eliminate uncertainties regarding machine-readable powers of attorney. The practical application of machine-readable power of attorney can lead to significant economic benefits. They also contribute to increasing the transparency of the corporate procurement system.