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Board Resolution For Working Capital Loan

Board Resolution For Working Capital Loan Template for Indonesia

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Board Resolution For Working Capital Loan

"I need a Board Resolution For Working Capital Loan for my manufacturing company to secure a 5 billion IDR facility from Bank Mandiri, with the board meeting scheduled for March 15, 2025, and specific authorization for our CFO and Finance Director as joint signatories."

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Document background
A Board Resolution For Working Capital Loan is a crucial corporate document required in Indonesia when a company seeks to obtain working capital financing from financial institutions. This document is essential under Indonesian Company Law No. 40 of 2007 and related banking regulations, serving as formal evidence that the company's board has properly authorized the loan transaction. It is typically required by banks and financial institutions as part of their due diligence process and demonstrates proper corporate governance. The resolution should detail the loan amount, purpose, key terms, and specifically authorized representatives who can execute loan documentation. It must be prepared in accordance with the company's articles of association and may need to be notarized depending on the loan amount and bank requirements. This document is particularly important for audit trails and corporate compliance records.
Suggested Sections

1. Header Information: Company details including legal name, registration number, and registered address

2. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum

3. Attendance: List of present and absent board members, including chairman of the meeting

4. Background: Purpose of the working capital loan and business justification

5. Review of Financial Position: Brief overview of company's current financial position and need for working capital

6. Loan Details: Specific terms of the proposed loan including amount, interest rate, tenure, and lender details

7. Board Deliberation: Record of the board's consideration of the loan proposal

8. Resolutions: Formal decisions made by the board regarding the loan approval

9. Authorization: Specific powers granted to designated officers to execute loan documents

10. Closing: Signatures of board members and company seal requirements

Optional Sections

1. Collateral Details: Include when the loan requires specific assets as collateral or security

2. Related Party Disclosure: Required if the loan involves any related party transactions or conflicts of interest

3. Compliance Statement: Statement confirming compliance with specific regulatory requirements, needed for regulated industries

4. Risk Assessment: Include when required by company policy or for large loan amounts

5. Financial Covenants: Include when the loan agreement contains specific financial maintenance requirements

Suggested Schedules

1. Schedule A - Loan Term Sheet: Detailed terms and conditions of the proposed loan

2. Schedule B - Financial Projections: Cash flow and financial forecasts supporting the loan requirement

3. Schedule C - Authorized Signatories: List of authorized persons with their specimen signatures

4. Appendix 1 - Meeting Attendance Record: Detailed attendance record with signatures of attending board members

5. Appendix 2 - Supporting Documents: Copies of relevant supporting documentation referenced in the resolution

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Manufacturing

Trading

Retail

Construction

Agriculture

Technology

Services

Logistics

Healthcare

Real Estate

Mining

Hospitality

Export-Import

Small and Medium Enterprises

Consumer Goods

Relevant Teams

Legal

Finance

Corporate Secretariat

Treasury

Compliance

Risk Management

Corporate Governance

Board Secretariat

Executive Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Corporate Secretary

Legal Director

Board Director

Managing Director

Treasury Manager

Financial Controller

Legal Counsel

Compliance Officer

Corporate Governance Officer

Risk Management Officer

Board Chairman

Company Director

Industries
Law No. 40 of 2007 on Limited Liability Companies (Company Law): The fundamental law governing corporate entities in Indonesia, including provisions on board duties, corporate governance, and decision-making processes
Law No. 7 of 1992 on Banking (as amended by Law No. 10 of 1998): Regulates banking activities including lending practices and requirements for working capital loans
Financial Services Authority (OJK) Regulation No. 42/POJK.03/2017: Guidelines on commercial bank loan arrangements and prudential banking principles
Law No. 42 of 1999 on Fiduciary Security: Governs the creation and enforcement of security interests over movable assets, which may be relevant for working capital loan collateral
Bank Indonesia Regulation No. 17/12/PBI/2015: Regulations on working capital loan requirements and monetary policies affecting commercial lending
Government Regulation No. 43 of 2011: Regulates procedures for borrowing money and management of loan proceeds by companies
Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations: Relevant for understanding the implications of default and debt obligations in loan agreements
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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