Board Resolution to Purchase Equipment

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION TO APPROVE EQUIPMENT PURCHASE

**DATE:** {{date}}

**COMPANY REGISTRATION NUMBER:** {{company_registration_number}}

**RESOLVED,** that the Board of Directors of {{company_name}} (hereinafter referred to as "the Company") hereby convenes this meeting to consider and approve the purchase of new equipment.

BACKGROUND

WHEREAS, the management has identified a need for new equipment to enhance operational efficiency, expand production capacity, or replace obsolete machinery.

WHEREAS, a thorough evaluation of various equipment options has been conducted, and a preferred supplier, {{supplier_name}}, offering competitive terms and suitable equipment, has been identified.

APPROVED EQUIPMENT AND SPECIFICATIONS

**TYPE OF EQUIPMENT:** {{equipment_type}}

**MODEL/SPECIFICATION:** {{equipment_model_specifications}}

**QUANTITY:** {{quantity}}

**INTENDED USE:** {{intended_use}}

FINANCIAL APPROVAL

**TOTAL PURCHASE PRICE:** {{currency}} {{total_purchase_price}}

**PAYMENT TERMS:** {{payment_terms}} (e.g., upfront, instalment plan, lease agreement)

**FUNDING SOURCE:** {{funding_source}} (e.g., cash reserves, loan from {{bank_name}}, asset finance)

**FURTHER RESOLVED,** that the expenditure of an amount not exceeding {{currency}} {{maximum_expenditure_amount}} for the purchase of the aforementioned equipment is hereby authorised.

AUTHORISATION FOR EXECUTION

**FURTHER RESOLVED,** that {{authorised_person_1_name}} ({{authorised_person_1_title}}) and {{authorised_person_2_name}} ({{authorised_person_2_title}}), or any one of them, be and are hereby authorised to sign all necessary documents, agreements, and forms, and to take all actions deemed necessary or appropriate to give effect to this resolution, including but not limited to, negotiating and executing purchase agreements, arranging financing, and ensuring delivery and installation of the equipment.

DELIVERY AND INSTALLATION

**EXPECTED DELIVERY DATE:** {{expected_delivery_date}}

**INSTALLATION REQUIREMENTS:** {{installation_requirements}}

**RESPONSIBLE DEPARTMENT/PERSON:** {{responsible_department_or_person}}

RECORD KEEPING

**FURTHER RESOLVED,** that a copy of this resolution shall be kept in the Company’s minute book and relevant financial records to reflect this transaction accurately and transparently.

CERTIFICATION

I, {{company_secretary_name}}, Company Secretary of {{company_name}}, do hereby certify that the foregoing is a true and correct copy of a resolution duly adopted by the Board of Directors of the Company at a meeting duly called and held on {{date_of_meeting}}, at which a quorum was present and acting throughout, and that such resolution is now in full force and effect.

Signature Block

_____________________________

**{{company_secretary_name}}**

**Company Secretary**

**DATE:** {{date_of_signature}}