Draft Board Resolution For Letter of Credit

     

 Draft Board Resolution For Letter of Credit

"RESOLVED THAT the consent of the Board of Directors of the Company be and is hereby accorded to apply for opening of the Letter of Credit ("the LC") in favour of ………………… for Rs.………..with the …………. Bank"

"RESOLVED FURTHER THAT Shri ____________ of the Company be and is hereby authorised to submit the proposal for opening of the LC in favour of the above said party to the Bank and to accept all the terms and conditions as may be communicated by the Bank and agreeable to him and to execute necessary documents, undertaking, confirmation and to give any statement or documents as may be required by the Bank for providing the LC for and on behalf of the Company."

"RESOLVED FURTHER THAT Shri _________ of the Company be and is hereby authorised to submit the above said resolution with a copy of the Memorandum & Articles alongwith the requisite proposal form and the Bank be and is hereby authorised to act upon the abovesaid resolution for providing the LC to the Company."

"RESOLVED FURTHER THAT the Common Seal, if any, of the Company be affixed in presence of Shri ___________ and Shri ________ of the Company on all such documents as may be required by the Bank."

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Draft Board Resolution for Availing Bank Loan/Credit Facility/Overdraft Facility

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