Board resolution for corporate guarantee

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jalpa Gaurang bhatt (Querist)
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03 March 2010 Hi Experts

can you pls provide me the "Board resolution of corporate guarantee"

my company have to give CG to its costomer and as such the limit is not exceeding so only Board resolution is required.

pls its urgent

Jagruti (CS)

Jagruti (CS) (Expert)
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06 March 2010 below find the speciment of CG to Bank.

"RESOLVED THAT the Company do offer Corporate Guarantee to ________. as security for credit facilities sanctioned to _________And that the documents in respect of guarantee received/to be received under cover of the Banks aforementioned letter be and are hereby approved for execution by the Company in accordance with the Articles of Association of the Company.

Further resolved that the Common Seal of the Company be affixed on the related documents as mentioned earlier in the presence of any one of the directors of the Company.

Further resolved that the Company hereby declare that any acknowledgement or confirmation of debt and/or security which may be required by the Bank be executed at any time for and on behalf of the Company by any one of the directors of the Company."

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jalpa Gaurang bhatt

jalpa Gaurang bhatt (Querist)
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06 March 2010 Thank you Jagruti

you resolved it

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