Board Resolution Format for Authorisation Signatory for Lease Agreement

When it comes to signing a lease agreement, it`s important for businesses to have a clear and concise board resolution format to authorize their signatories. A board resolution is a formal document that outlines decisions made by a company`s board of directors, and it serves as a legal record of those decisions.

To ensure that your board resolution is up to par, here are some key elements to include:

1. Company information: The resolution should state the full legal name of the company, the address, and the date of the meeting.

2. Purpose of the resolution: Clearly state that the purpose of the resolution is to authorize the signatory for the lease agreement.

3. Names of signatories: Include the names of all individuals who will be authorized to sign the lease agreement on behalf of the company.

4. Specific powers: Outline the specific powers that the signatories have been authorized to exercise, including the power to enter into agreements, sign documents, and execute any other legal documents related to the lease agreement.

5. Duration of authorization: Specify the duration of the authorization, typically this could be a specific period or until the completion of the lease agreement.

6. Approval: Finally, the resolution should be approved by the board of directors and signed by each member indicating support.

It`s important to keep in mind that the board resolution format may differ depending on the specific requirements and laws of each jurisdiction. Therefore, it’s important to consult with a legal representative or expert before finalizing the resolution.

In conclusion, a well-written board resolution format is crucial for authorizing signatories for a lease agreement. It ensures there is clarity and compliance with legal requirements. By following these key elements, you can ensure a successful resolution that protects your business and its interests.