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CM Advocates > Board Resolutions for Third Party Borrowing
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Board Resolutions for Third Party Borrowing

KShs1,500

A board resolution is sometimes also called a corporate resolution. It’s a formal document that solidifies in writing important decisions that boards of directors make. Boards usually write up board resolutions when they appoint new directors to the board. Resolutions authorize committees to take action on matters that the board voted on.

Description

Summary

A board resolution is sometimes also called a corporate resolution. It’s a formal document that solidifies in writing important decisions that boards of directors make. Boards usually write up board resolutions when they appoint new directors to the board. Resolutions authorize committees to take action on matters that the board voted on.

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Table of Contents

CM Advocates LLP Service Agreement template sets out:

  • the terms of the relationship;
  • the rights, responsibilities and obligations of the service provider and principal; and
  • business processes such as payment, fees and invoicing.

The document is 7 pages long and contains 12 clauses and 1 schedule.

The Service Agreement is a basic consultancy agreement.  This Service Agreement template is drafted to protect the interests of the service provider and is intended to set out a description of the services and the commercial terms (e.g. price and payment method) at which they will be provided. It is recommended that the services agreement is entered prior to the service provider providing the services. This Services Agreement template also includes the provision of goods that may be ancillary to the provision of the services.

If your service agreement relationship is more complex, then it’s important that you have a lawyer assist you draft the following clauses:

  • an unpaid invoices collection clause;
  • a confidentiality clause;
  • the ability for the service provider to be paid on commission;
  • a subcontracting clause allowing the principal to restrict the ability of the service provider to subcontract the services;
  • a sophisticated dispute resolution clause;
  • a sophisticated workplace health and safety clause;
  • a non-compete clause;
  • a provision to protect your intellectual property and to allow the service provider to use it, if required; and
  • additional provisions in related to the rights, responsibilities and obligations of the service provider and principal, particularly if agreement has been reached on particular issues.

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