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Board resolution to enter into franchise agreement

Sanket (S) (29 Points)

15 May 2012

Can anybody send me Board Resolution to enter into Franchise Agreement

Out company is starting new busines as franchisee of some retail store.

Thanks

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4 Replies

Anshu Shrivastava (company secretary) (143 Points)
Replied 15 May 2012

GRANT OF AUTHORITY FOR ENTERING INTO FRANCHISEE AGREEMENTS :

"RESOLVED that Mr. X, Managing Director of the company, be and is hereby authorized to negotiate with the opposite parties, and agree on the standard terms and conditions of the form of franchisee agreement(s), that may be required to be entered into for and on behalf of the Company from time to time.

RESOLVED further that Mr. X be and is hereby authorized to alter or make suitable changes or modify the provisions of the said standard agreement(s) at his sole discretion and power.

RESOLVED further that the said Mr. X be and is hereby authorized to sign such franchisee agreement(s) in the name and on behalf of the company."

Aditya Soni (CS Final Student Trainee) (727 Points)
Replied 15 May 2012

Resolution: Authorize Franchise Agreement

WHEREAS, the Corporation has the opportunity to become licensed as a franchisee of:_____________, and

WHEREAS, the Board of Directors of the Corporation has concluded that it would be in the best interest of the Corporation to operate as a licensed franchisee; be it

RESOLVED, that the Corporation enter into a franchise agreement with__________, in accordance with the terms and conditions of a franchise agreement presented to and reviewed by the Board and as it is annexed hereto; and, be it

RESOLVED FURTHER, that the President of the Corporation undertake all actions as are necessary to perform the obligations of the Corporation under said agreement.

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of__________, a corporation duly formed pursuant to the laws of the state of__________, and that the foregoing is a true record of a resolution duly adopted at a meeting of the___________ and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on __________, and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this _______ of _____, 20 ___.

A TRUE RECORD.

ATTEST.

Secretary_____________

Regards,

Aditya

varsha (marketing) (30 Points)
Replied 27 May 2022

Franchise agreements contain the terms and conditions that a franchisor has for its franchisees. Franchises are generally governed by these terms, which are usually outlined in a written agreement between the parties.

sagar bedre (Practice) (40 Points)
Replied 11 August 2023

[Your Company Name]
[Date]

BOARD RESOLUTION

Subject: Approval to Enter into Franchise Agreement

WHEREAS, a meeting of the Board of Directors of [Your Company Name] (the "Company") was duly convened and held on [Date of the Meeting], with proper notice to all directors;

WHEREAS, the directors have been presented with the proposal to enter into a franchise agreement (the "Agreement") with [Franchisee's Name], as outlined in the Agreement dated [Date of Agreement];

WHEREAS, the proposed Franchise Agreement is in line with the Company's strategic objectives and presents an opportunity for expansion and growth;

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby approves the Company's entry into the Franchise Agreement with [Franchisee's Name], as presented in the Agreement dated [Date of Agreement];

RESOLVED FURTHER, that the [Title of the Authorized Officer, e.g., CEO, CFO] of the Company is authorized and directed to execute, deliver, and perform any and all documents, agreements, and instruments necessary to give effect to the Company's participation in the Franchise Agreement.

RESOLVED FURTHER, that the [Title of the Authorized Officer, e.g., CFO] of the Company is authorized to coordinate with legal counsel and consultants to ensure compliance with all relevant laws, regulations, and guidelines in connection with the Franchise Agreement.

RESOLVED FURTHER, that the [Title of the Authorized Officer, e.g., CFO] of the Company is authorized to allocate resources, funds, and personnel as needed to implement and manage the obligations arising from the Franchise Agreement.

RESOLVED FURTHER, that a copy of this resolution shall be maintained in the Company's records and kept at its registered office for inspection by any director during normal business hours.

This resolution is passed on this [Date] by the affirmative vote of [Number] directors of the Board.

[Signature of Board Chair] [Signature of Secretary]
[Printed Name of Board Chair] [Printed Name of Secretary]
Chairperson Secretary

[Names of Other Board Members]

for more information : https://inclaw.in/our-services/corporate-commercial-law/