Board Resolution for the Approval to Guarantee Third-Party Borrowing

Document Type

DOCX

Pages

Price: KES 350

Get Document Now

Professionally Drafted

Fully Customizable

12,000+ Happy Customers

Instant Delivery

Document Overview

It is a formal decision passed by the Board of Directors of a company authorizing the company to act as a guarantor for borrowings taken by another party (such as a subsidiary, affiliate, or related entity). The resolution records the Board’s approval and empowers designated directors or officers to sign the necessary guarantee documents on behalf of the company.

Purpose:
1. To formally authorize the company to guarantee a third party’s borrowing, ensuring compliance with company law and internal governance.
2. To document the Board’s approval, protecting directors by showing that the decision was duly considered and passed.
3. To empower company officers to sign and execute all required documents with the lender.
4. To satisfy lenders’ requirements, as most banks and financial institutions require a certified board resolution before accepting a corporate guarantee.

Document Preview Below
Purchase now to receive the complete document instantly.

Preview

End of Preview
Purchase now to access the complete document.

Board Resolution for the Approval to Guarantee Third-Party Borrowing

Document Overview

Preview

Related Legal Documents