A Board Of Directors Resolution For Bank Account Opening is a crucial corporate document required by banks in Singapore before opening a corporate account. This resolution demonstrates proper corporate governance and compliance with the Companies Act and MAS regulations. It typically includes details of the approved bank, authorized signatories, transaction limits, and specific banking services authorized by the board. The resolution serves as evidence of the board's approval and provides clear operating guidelines for the company's banking relationships.
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1. Title and Date: Identifying information including company name and resolution date
2. Preamble: States that this is a resolution of the Board of Directors and confirms meeting details
3. Attendance: List of directors present and confirmation of quorum
4. Resolution Statements: Core decisions regarding bank account opening including bank name, type of account, and purpose
5. Authorized Signatories: Names and details of persons authorized to operate the account
6. Signing Authority Limits: Transaction limits for authorized signatories and required combinations
7. Certification: Declaration of authenticity by company secretary or director
1. Additional Banking Services: Authorization for specific banking services like internet banking, trade finance, or other facilities
2. Special Instructions: Any specific operational requirements or restrictions for account operation
1. List of Authorized Signatories: Detailed information about authorized persons including specimen signatures and contact details
2. Signing Matrix: Detailed breakdown of transaction limits and signing combinations for different transaction types
3. Supporting Documents: List of required KYC documents to be submitted with the resolution
Relevant legal definitions
Company
Board of Directors
Resolution
Bank
Authorized Signatories
Banking Mandate
Signing Authority
Transaction Limits
Operating Instructions
Banking Services
Electronic Banking Facilities
Specimen Signature
Corporate Account
Signing Matrix
Quorum
Directors Present
Company Secretary
Corporate Seal
Certified True Copy
Board Meeting
Governing Law
Board of Directors
Resolution
Bank
Authorized Signatories
Banking Mandate
Signing Authority
Transaction Limits
Operating Instructions
Banking Services
Electronic Banking Facilities
Specimen Signature
Corporate Account
Signing Matrix
Quorum
Directors Present
Company Secretary
Corporate Seal
Certified True Copy
Board Meeting
Governing Law
Clauses
Resolution Statement
Bank Account Authorization
Authorized Signatories
Signing Authority Limits
Banking Services Authorization
Online Banking Access
Transaction Approval Matrix
Account Operation Mandate
Supporting Documentation
Specimen Signatures
Board Authorization
Certification
Attestation
Notice Requirements
Amendment Authority
Bank Communications
Corporate Seal Usage
Document Execution
Governing Law
Bank Account Authorization
Authorized Signatories
Signing Authority Limits
Banking Services Authorization
Online Banking Access
Transaction Approval Matrix
Account Operation Mandate
Supporting Documentation
Specimen Signatures
Board Authorization
Certification
Attestation
Notice Requirements
Amendment Authority
Bank Communications
Corporate Seal Usage
Document Execution
Governing Law
Relevant Industries
Relevant Teams
Relevant Roles
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