Board Resolutions Where a Company is Guaranteeing a Third Party
NOTE: These Board Resolutions are applicable where the company is guaranteeing the borrowing by another third party taking out a loan or facility. The Articles of Association of the company must allow for such guarantee. The resolutions are crucial documents and must be submitted to the lending institution.
The resolutions should be printed out on a company’s letterhead and should be signed by directors present during the said meeting.