Board resolutions are formal documents that are created and passed by the board of directors of a company. These resolutions are a critical component of corporate governance and are legally binding. One important type of board resolution is the authorised signatory resolution, which is used to designate specific individuals who are authorised to sign agreements on behalf of the company. In this article, we will discuss the board resolution format for authorised signatory for an agreement.
1. Start with the company`s letterhead
The authorised signatory resolution should begin with the company`s letterhead. This includes the company name, address, and logo. The letterhead should be at the top of the document and should be centred.
2. Add the date and the Board of Directors` details
Below the letterhead, add the date of the resolution and the details of the Board of Directors. This includes the names of the directors, the positions they hold in the company, and their signatures. The details of the Board should also be centred on the page.
3. State the purpose of the resolution
The next section should state the purpose of the resolution. In this case, it is to designate authorised signatories for agreements on behalf of the company. This section should be clear and concise and should outline the specific objectives of the resolution.
4. List the authorised signatories
The next section should list the names and positions of the authorised signatories. This includes their full name, position, and signature. It should also state the authority that each signatory has to sign agreements on behalf of the company.
5. Include any additional details
If there are any additional details that need to be included, such as any specific restrictions on the authorised signatories or any time limits for their authority, this should be added in this section.
6. Conclude with the approval
The resolution should conclude with the approval of the Board of Directors. This includes the signatures of the directors and the date of approval. This section should also be centred on the page.
In conclusion, the board resolution format for authorised signatory for an agreement is a critical document that ensures that the company`s interest is protected. It should be clear, precise, and complete. By following the above steps, you can develop a board resolution that will be legally binding and help your company achieve its objectives.