Board Resolution for Approval to Enter into a Contract/Agreement with a Third Party

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Document Overview

It is a formal decision made by the Board of Directors of a company authorizing the company to sign, approve, or enter into a specific contract or agreement with another party (e.g., a supplier, consultant, landlord, or business partner).

It is usually documented in writing, signed by directors (and sometimes the company secretary), and kept in the company’s minute book as part of the official records.

Purpose of the Resolution:
1. Under the Companies Act, 2015 and the company’s Articles of Association, the Board must formally approve significant decisions. A resolution shows the company has acted lawfully and collectively.
2. It provides proof to the third party (e.g., supplier, landlord, bank, or investor) that the directors authorized the company to enter into the agreement.
3. It ensures directors deliberate and agree on the contract, recording who authorized it.

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Board Resolution for Approval to Enter into a Contract/Agreement with a Third Party

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