Document Type: DOCX
Number of Pages: 2
A Board Resolution for Approval of Contracts or Agreements is a formal decision made by a company’s Board of Directors to authorize the company to enter into a legally binding contract with another party.Key Components:1. Heading & Company Information2. Attendance Record3. Preamble ("Whereas" Clauses)4. Resolutions Passed5. SignaturesPurpose of the ResolutionThe main purposes are to:1. Provide legal authority to the company to enter into the agreement2. Ensure due diligence by the board before contract commitment3. Document board approval for transparency and record-keeping4. Identify the signatory officer legally allowed to bind the company5. Demonstrate compliance with company policy, the Companies Act (2015, Kenya) or Articles of Association6. Protect directors and the company in case of legal or financial disputesDownload an editable template on Sheriaplex which you can update to meet your requirements.
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