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Corporate Resolution For Bank Account

Corporate Resolution For Bank Account Template for Indonesia

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Key Requirements PROMPT example:

Corporate Resolution For Bank Account

"I need a Corporate Resolution for Bank Account for my Indonesian tech startup to open new accounts with Bank Mandiri, designating three senior executives as Class A signatories with individual transaction limits of IDR 500 million, and implementing dual signature requirements for transactions above IDR 250 million."

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Document background
A Corporate Resolution For Bank Account is a fundamental document required when a company in Indonesia needs to establish or modify its banking arrangements. This document is mandated by Indonesian banking regulations and corporate law, particularly Law No. 40 of 2007 on Limited Liability Companies and relevant OJK regulations. It is typically needed when opening new bank accounts, changing authorized signatories, modifying banking arrangements, or updating signing powers. The resolution must be properly executed by the board of directors and contains critical information about who can operate the accounts, their respective authorities, and any limitations on their powers. This document serves as the bank's primary reference for verifying the legitimacy of banking transactions and instructions from the company.
Suggested Sections

1. Header and Company Information: Full legal name of the company, registration number, registered address, and date of resolution

2. Meeting Details: Information about when and where the resolution was passed, and who attended

3. Recitals: Statement confirming the meeting was properly convened and quorum requirements were met

4. Bank Account Authorization: Resolution to open/maintain bank account(s) with specified bank(s) and branch(es)

5. Authorized Signatories: Designation of authorized individuals who can operate the account, including their full names and positions

6. Signing Powers and Limitations: Specific powers granted to authorized signatories, including transaction limits and signing combinations

7. Banking Instructions: General instructions regarding account operation, including check signing, fund transfers, and other banking transactions

8. Certification: Statement certifying that the resolution was properly passed and remains in effect

9. Execution: Signature section for board members/company secretary to execute the resolution

Optional Sections

1. Online Banking Authorization: Additional section when company requires internet banking services, specifying authorized users and access levels

2. Foreign Currency Accounts: Include when company needs authorization for foreign currency accounts

3. Subsidiary Accounts: Required when authorizing accounts for subsidiary companies

4. Credit Facility Authorization: Include when resolution covers authorization for credit facilities or overdrafts

5. Special Instructions: Any specific operational requirements or restrictions unique to the company

Suggested Schedules

1. Schedule A - Authorized Signatories List: Detailed list of authorized signatories with specimen signatures, ID numbers, and positions

2. Schedule B - Signing Matrix: Matrix showing different transaction limits and required signing combinations

3. Schedule C - Bank Account Details: List of all bank accounts covered by the resolution, including account numbers and types

4. Appendix 1 - Supporting Documents: List of required supporting documents (e.g., company registration, ID copies of signatories)

5. Appendix 2 - Bank Forms: Specific bank forms required to be attached to 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

Banking and Financial Services

Corporate Services

Manufacturing

Retail

Technology

Healthcare

Construction

Import/Export

Agriculture

Mining

Education

Professional Services

Hospitality

Real Estate

Transportation and Logistics

Relevant Teams

Legal

Finance

Treasury

Corporate Secretariat

Compliance

Risk Management

Corporate Governance

Banking Operations

Senior Management

Board of Directors

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Company Secretary

Treasury Manager

Financial Controller

Board Director

Managing Director

Account Manager

Corporate Counsel

Legal Director

Compliance Officer

Banking Relationship Manager

Finance Manager

Corporate Secretary

Industries
Law No. 40 of 2007 on Limited Liability Companies: The primary law governing corporate entities in Indonesia, including provisions on corporate governance, board authorities, and corporate decision-making processes
Law No. 7 of 1992 on Banking (as amended by Law No. 10 of 1998): The main banking law in Indonesia that regulates banking relationships, account opening requirements, and banking operations
OJK Regulation No. 3/POJK.03/2016: Regulation on bank account opening procedures and customer due diligence requirements in Indonesia
Bank Indonesia Regulation No. 3/10/PBI/2001: Regulation concerning the implementation of Know Your Customer (KYC) principles for banks operating in Indonesia
Law No. 8 of 2010: Law concerning Prevention and Eradication of Money Laundering, which includes requirements for bank account documentation and verification
OJK Regulation No. 12/POJK.01/2017: Regulation on the Implementation of Anti-Money Laundering and Prevention of Terrorism Financing Programs in the Financial Services Sector
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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