Board Resolution template for Authorization to Sign Contracts on Behalf of the Company

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Document Overview

A Board Resolution for Authorization to Sign Contracts is an official decision of a company’s Board of Directors granting specific authority to a director, officer, or other designated person to enter into contracts and agreements on behalf of the company. It sets out who is authorized, the scope of their authority, and in some cases, the requirement for the company seal and a co-signatory.

Purpose:
1. Ensures that contracts entered into by the company are validly executed by a duly authorized person.
2. Provides clear Board approval and documentation of delegated authority, reducing the risk of unauthorized commitments.
3. Enables smooth business operations by designating individuals who can negotiate and sign agreements without having to seek Board approval each time.
4. Clearly identifies the person(s) responsible for executing contracts, creating a record that can be referred to in case of disputes.
5. Helps meet statutory requirements under the Companies Act and the company’s Articles of Association regarding execution of contracts.

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Board Resolution template for Authorization to Sign Contracts on Behalf of the Company

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