Declaration Of Solvency Form for Switzerland

Declaration Of Solvency Form Template for Switzerland

A formal declaration under Swiss law where company directors or authorized representatives confirm the organization's ability to pay its debts and meet its financial obligations as they become due. This document is governed by the Swiss Code of Obligations and the Federal Act on Debt Enforcement and Bankruptcy, requiring detailed financial information and professional attestation. It serves as a legal statement of the company's financial health and carries significant legal implications under Swiss corporate law, particularly important for corporate transactions, annual compliance, or when required by regulatory authorities.

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What is a Declaration Of Solvency Form?

The Declaration of Solvency Form is a crucial document in Swiss corporate governance and financial compliance. It is typically required during significant corporate events such as mergers, acquisitions, capital reductions, or as part of annual compliance requirements. The document serves as a formal statement where directors or authorized representatives declare, under Swiss law, that they have conducted a thorough investigation of the company's affairs and have reasonable grounds to believe the company can meet its liabilities as they fall due. This declaration must comply with the Swiss Code of Obligations and may require verification by external auditors or notaries, depending on the circumstances. The form includes detailed financial information, projections, and supporting documentation to substantiate the solvency declaration.

What sections should be included in a Declaration Of Solvency Form?

1. Company Identification: Full legal name of the company, registration number, registered address, and any relevant business identifiers

2. Declaration Date: The effective date of the solvency declaration

3. Purpose of Declaration: Statement explaining the reason for making the solvency declaration (e.g., annual requirement, corporate transaction, regulatory requirement)

4. Financial Position Statement: Formal declaration of the company's current solvency status, including confirmation that all known liabilities can be paid as they fall due

5. Assets and Liabilities Summary: High-level summary of the company's current assets and liabilities

6. Director's Confirmation: Statement confirming that the directors have made full inquiry into the company's affairs and have formed the opinion that the company is solvent

7. Basis for Declaration: Explanation of the information and evidence relied upon in making the solvency declaration

8. Signature Block: Space for required signatures, including directors and any required witnesses or notary

What sections are optional to include in a Declaration Of Solvency Form?

1. Regulatory Compliance Statement: Required for regulated entities such as financial institutions, confirming compliance with specific regulatory capital requirements

2. Group Company Statement: Required for companies that are part of a corporate group, describing any relevant parent company guarantees or inter-company positions

3. Contingent Liabilities Declaration: Optional section for companies with significant contingent liabilities or off-balance sheet items

4. Future Projects Impact: For companies undertaking major projects or investments, assessment of impact on future solvency

5. Corporate Restructuring Statement: Required if the declaration is being made in connection with a merger, division, or other corporate restructuring

6. Auditor's Confirmation: Optional third-party verification from the company's auditors, may be required in certain circumstances

What schedules should be included in a Declaration Of Solvency Form?

1. Schedule A - Balance Sheet: Detailed current balance sheet showing all assets and liabilities

2. Schedule B - Cash Flow Projection: 12-month cash flow forecast demonstrating ability to pay debts as they fall due

3. Schedule C - Major Creditors List: List of significant creditors and payment terms

4. Schedule D - Material Contracts: Summary of major contracts with financial implications

5. Schedule E - Financial Statements: Most recent annual financial statements and any relevant interim financial information

6. Appendix 1 - Supporting Documents: Copies of relevant board resolutions, bank statements, or other supporting evidence

7. Appendix 2 - Expert Reports: Any relevant independent valuations or expert reports relied upon

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Banking and Financial Services

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Manufacturing

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Real Estate

Technology

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Legal

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Chief Executive Officer

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Board Director

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Financial Controller

Corporate Secretary

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Risk Manager

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Treasury Manager

Finance Director

Company Secretary

Corporate Governance Officer

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What is a Declaration Of Solvency Form?

What sections should be included in a Declaration Of Solvency Form?

What sections are optional to include in a Declaration Of Solvency Form?

What schedules should be included in a Declaration Of Solvency Form?

Authors

Alex Denne

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