A Board Resolution For Bank Guarantee is a crucial corporate document required when a company needs to obtain a bank guarantee in Singapore. It demonstrates proper corporate authorization and compliance with local regulations, including the Companies Act and MAS guidelines. This document is typically needed for business activities requiring financial assurance, such as government tenders, project bids, or contract performance guarantees. The resolution specifies the type and amount of guarantee, authorized persons, and any conditions or limitations imposed by the board. It serves as the bank's primary evidence that the company has properly authorized the guarantee transaction.
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1. Title and Date: Identifying information of the company and date of resolution
2. Preamble: States that it's an extract of board meeting minutes or circular resolution
3. Attendance: List of directors present/participating in the resolution
4. Quorum Confirmation: Confirmation that quorum requirements were met
5. Purpose: Details of the bank guarantee requirement and business justification
6. Resolution Statements: Specific resolutions being passed regarding the bank guarantee
7. Authorization: Names and powers of authorized signatories
8. Certification: Company secretary's certification of the resolution
1. Related Resolutions: Reference to previous or related board resolutions when the guarantee is linked to existing facilities or previous board decisions
2. Specific Conditions: Special conditions or limitations on the guarantee when the board wants to impose specific restrictions
3. Risk Assessment: Board's consideration of risks for large guarantees or high-risk transactions
1. Bank Details: Details of the bank providing the guarantee
2. Guarantee Terms: Copy or summary of the proposed guarantee terms
3. Supporting Documents: Any relevant supporting documentation referenced in the resolution
4. Specimen Signatures: Specimen signatures of authorized signatories
Relevant legal definitions
Company
Board of Directors
Resolution
Bank Guarantee
Authorized Signatories
Beneficiary
Guarantee Amount
Guarantee Period
Issuing Bank
Principal
Security
Underlying Transaction
Company Secretary
Corporate Seal
Quorum
Director
Articles of Association
Constitution
Governing Law
Business Day
Stamp Duty
Meeting Minutes
Circular Resolution
Board Meeting
Certificate of Authorization
Board of Directors
Resolution
Bank Guarantee
Authorized Signatories
Beneficiary
Guarantee Amount
Guarantee Period
Issuing Bank
Principal
Security
Underlying Transaction
Company Secretary
Corporate Seal
Quorum
Director
Articles of Association
Constitution
Governing Law
Business Day
Stamp Duty
Meeting Minutes
Circular Resolution
Board Meeting
Certificate of Authorization
Clauses
Purpose of Guarantee
Authorization
Authorized Signatories
Guarantee Amount
Duration
Bank Details
Security and Collateral
Board Approval
Execution Authority
Quorum Confirmation
Certification
Company Secretary Attestation
Document Execution
Corporate Seal Usage
Bank Mandate
Specimen Signatures
Transaction Specifics
Compliance Confirmation
Powers and Limitations
Governing Law
Authorization
Authorized Signatories
Guarantee Amount
Duration
Bank Details
Security and Collateral
Board Approval
Execution Authority
Quorum Confirmation
Certification
Company Secretary Attestation
Document Execution
Corporate Seal Usage
Bank Mandate
Specimen Signatures
Transaction Specifics
Compliance Confirmation
Powers and Limitations
Governing Law
Relevant Industries
Relevant Teams
Relevant Roles
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