The Corporate Resolution Bank Account Authorized Signers is a crucial document required by Philippine banks and regulatory authorities when establishing or modifying banking relationships with corporate entities. This document is necessary whenever a corporation needs to designate or change authorized signatories for its bank accounts, typically following board appointments, organizational restructuring, or changes in banking requirements. The resolution must comply with the Corporation Code of the Philippines, BSP regulations, and anti-money laundering laws, making it a vital governance tool. It specifies who can sign bank documents, withdraw funds, access online banking, and execute various banking transactions, with detailed provisions for transaction limits and required signature combinations. Banks rely on this document to verify the authority of individuals conducting transactions on behalf of the corporation, making it an essential element in corporate banking operations.
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1. Title and Date: Corporate resolution number, date of meeting, and corporate details
2. Attendance and Quorum: List of board members present and confirmation of quorum requirements being met
3. Resolution Statement: Opening statement declaring the board's decision to authorize bank account signatories
4. Bank Account Details: Specific details of the bank account(s) including bank name, branch, and account types
5. Authorized Signatories: Names, positions, and identification details of designated authorized signatories
6. Signing Powers and Limitations: Specific powers granted to signatories, including transaction limits and signing classes (e.g., Class A, Class B)
7. Signing Requirements: Combinations of signatures required for different transaction types and amounts
8. Certification: Statement certifying the resolution's validity and compliance with corporate bylaws
9. Attestation: Corporate Secretary's attestation of the resolution's authenticity
1. Previous Resolution Revocation: Section revoking previous signing authorities, used when replacing existing signatories
2. Online Banking Authorization: Additional provisions for online banking access and authorities, used when digital banking services are required
3. Special Instructions: Any specific instructions for particular transactions or circumstances, used when special handling is needed
4. Branch Network Authorization: Authorization for transactions across multiple branches, used when nationwide banking operations are required
5. Foreign Currency Accounts: Special provisions for foreign currency accounts, used when dealing with international transactions
1. Schedule A - List of Authorized Signatories: Detailed list of authorized signatories with specimen signatures and identification details
2. Schedule B - Signing Matrix: Matrix showing transaction types, amounts, and required signature combinations
3. Schedule C - Account Details: Complete list of all bank accounts covered by the resolution
4. Appendix 1 - Identification Documents: Copies of valid government IDs of authorized signatories
5. Appendix 2 - Corporate Documents: Supporting corporate documents (SEC registration, bylaws excerpts, etc.)
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Legal Services
Manufacturing
Retail
Technology
Healthcare
Real Estate
Construction
Education
Non-Profit Organizations
Professional Services
Relevant Teams
Legal
Finance
Treasury
Corporate Secretariat
Compliance
Risk Management
Corporate Governance
Banking Operations
Senior Management
Board of Directors
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Corporate Secretary
Treasury Manager
Financial Controller
Board Director
Managing Director
General Manager
Finance Manager
Accounting Manager
Legal Counsel
Company Secretary
Operations Director
Branch Manager
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