Board Resolution Authorizing a Check Approval Procedure

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Board Resolution Authorizing a Check Approval Procedure

Board Resolution Authorizing a Check Approval Procedure

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

BOARD RESOLUTION

**DATE:** {{date}}

**SUBJECT:** Board Resolution Authorizing a Check Approval Procedure

**WHEREAS,** it is deemed necessary and appropriate to establish clear internal controls and procedures for the authorization and approval of company checks to ensure financial prudence, accountability, and compliance with corporate governance principles; and

**WHEREAS,** the Board of Directors of {{company_name}} (the "Company") has reviewed and considered the proposed Check Approval Procedure, hereinafter referred to as the "Procedure", which outlines the thresholds, signatories, and documentation required for the approval of all financial disbursements made via check; and

**NOW, THEREFORE, BE IT RESOLVED,** that the Board of Directors hereby approves and adopts the Check Approval Procedure attached hereto as **Annexure A**, and directs its immediate implementation.

DELEGATION OF AUTHORITY

**FURTHER RESOLVED,** that the authority for approving checks up to a value of {{approval_limit_1}} is hereby delegated to {{position_1}} and {{position_2}}, requiring the signature of at least one of these individuals.

**FURTHER RESOLVED,** that the authority for approving checks exceeding {{approval_limit_1}} but not exceeding {{approval_limit_2}} is hereby delegated to {{position_3}} and {{position_4}}, requiring the signatures of both these individuals.

**FURTHER RESOLVED,** that any checks exceeding a value of {{approval_limit_2}} shall require the unanimous approval and signatures of at least two (2) Executive Directors of the Company.

PROCEDURAL REQUIREMENTS

**FURTHER RESOLVED,** that all check approvals shall be contingent upon the submission of adequate supporting documentation, including but not limited to invoices, purchase orders, contracts, and expense reports, which must be reviewed and verified by the approving signatory/signatories.

**FURTHER RESOLVED,** that all checks and supporting documentation shall be cross-referenced and filed systematically by the accounts department, and records shall be maintained for a period of not less than {{retention_period}} years, in accordance with applicable legal and accounting standards.

REVIEW AND AMENDMENT

**FURTHER RESOLVED,** that this Check Approval Procedure shall be subject to an annual review by the Board of Directors, or earlier if deemed necessary due to changes in financial regulations, company structure, or operational requirements.

**FURTHER RESOLVED,** that any amendments or modifications to this Procedure must be formally approved by a subsequent Board Resolution.

EFFECTIVE DATE

**FURTHER RESOLVED,** that this Board Resolution and the attached Check Approval Procedure shall become effective on **{{effective_date}}**.

CERTIFICATION

I, {{secretary_name}}, the duly appointed Company Secretary of {{company_name}}, do hereby certify that the foregoing is a true and accurate copy of a resolution duly adopted by the Board of Directors of the Company at a meeting duly convened and held on the **{{date}}**, at which a quorum was present and voting throughout.

SIGNATURE BLOCK

_____________________________

{{secretary_name}}

Company Secretary

Date: {{signature_date}}