Mandate

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Authorization or instruction to proceed with an undertaking or to take a course of action. A borrower, for example, might instruct the lead manager of a loan or bond to proceed with the issue on the terms agreed. Or a pension fund's trustees might mandate external managers to manage the fund. The mandate is likely to include the investment policy the fund should follow.

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-	~~The authority from~~ a borrower to the [[Lead Manager\|lead manager]] ~~to proceed with~~ a loan or [[Bond\|bond]] issue on the terms agreed.	+	Authorization or instruction to proceed with an undertaking or to take a course of action. A borrower, for example, might instruct the [[Lead Manager\|lead manager]] of a loan or [[Bond\|bond]] to proceed with the issue on the terms agreed.
		+	Or a pension fund's trustees might mandate external managers to manage the fund. The mandate is likely to include the investment policy the fund should follow.