A Partnership Resolution For Opening Bank Account is an essential document required by banks in the Philippines when partnerships seek to establish banking relationships. This document is typically needed when a partnership is first formed, when changing banking arrangements, or when updating authorized signatories. It must comply with the General Banking Law of 2000, the Civil Code of the Philippines' partnership provisions, and relevant Bangko Sentral ng Pilipinas (BSP) regulations. The resolution includes crucial details such as the specific bank where the account will be opened, the type of account, designated signatories, transaction limits, and operating instructions. This document is particularly important as it provides banks with the necessary authorization and protection while ensuring the partnership's interests are properly represented in banking transactions.
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1. Title and Date: Formal title of the resolution and date of partnership meeting
2. Partnership Details: Full legal name of partnership, registration details, and principal place of business
3. Attendance and Quorum: Record of partners present and confirmation of meeting quorum requirements
4. Recitals: Background information explaining the need for opening a bank account
5. Bank Account Details: Specification of the bank, branch, and type of account to be opened
6. Authorization to Open Account: Formal resolution authorizing the opening of the bank account
7. Authorized Signatories: Names, positions, and specimen signatures of those authorized to operate the account
8. Signing Powers: Specification of signing limits and whether single or joint signatures are required
9. Certification: Certification of the resolution's validity by appropriate partnership representatives
1. Additional Banking Services: Authorization for specific banking services like online banking, credit facilities, or merchant services
2. Document Authorization: Authorization to execute any additional documents required by the bank
3. Supersession Clause: Statement revoking any previous resolutions relating to banking arrangements
4. Branch Network Authorization: Authorization to operate accounts across the bank's branch network
1. Schedule A - List of Authorized Signatories: Detailed list of authorized signatories with their personal information and specimen signatures
2. Schedule B - Signing Matrix: Matrix showing transaction limits and required number of signatories for different transaction types
3. Appendix 1 - Partnership Registration Documents: Copies of partnership registration certificate and other relevant registration documents
4. Appendix 2 - Partner Identification Documents: Copies of valid government IDs of all authorized signatories
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Retail
Manufacturing
Construction
Real Estate
Technology
Healthcare
Hospitality
Agriculture
Trading
Consulting
Transportation and Logistics
Education
Relevant Teams
Finance
Legal
Compliance
Administration
Operations
Treasury
Corporate Secretariat
Partner Relations
Risk Management
Relevant Roles
Managing Partner
Finance Director
Chief Financial Officer
Partnership Administrator
Business Manager
Finance Manager
Compliance Officer
Treasury Manager
Account Manager
Operations Manager
Administrative Officer
Company Secretary
Legal Counsel
Partner Relations Manager
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