Docstoc

Trust Account Resolution and Mandate

Document Sample
Trust Account Resolution and Mandate Powered By Docstoc
					Trust Account Resolution and Mandate
abc
At a meeting of

as trustee(s) of the held on

Year

Trust

the Trust’s banking arrangements were discussed and considered, in particular the proposed opening and/or maintenance of one or more bank account(s) held on behalf of the Trust with Rothschild Bank International Limited (the “Bank”). After due consideration, it was resolved that: 1 by accepting the terms of the Account Application and the Terms and Conditions, the Trustee(s) is/are fully aware of the obligations being entered into and that in so doing it is in the best interests of the Trust, and that entering into these arrangements will not be ultra vires with regard to the Trust’s trust deed or any other document(s) by which the Trust is governed, and, accordingly, the aforesaid documents were approved and accepted; and to sign the Bank’s account opening documentation and deliver it to the Bank; be appointed

2 3

the Bank be authorised, until the Bank receives notice to the contrary in writing, signed in accordance with this Mandate, to honour our respective signatures as fully empowered to act on behalf of the Trust in all transactions with the Bank and generally to instruct the Bank with regard to any account or banking transaction designated for the account of the Trust. In particular, we hereby authorise the Bank subject to the foregoing:3.1 to honour and comply with all cheques, drafts, bills, promissory notes, acceptances, negotiable instruments and orders expressed to be drawn, signed, accepted, given or made by ourselves and to debit the same to the banking account designated in the name of the Trust whether such account is in credit or overdrawn or becomes overdrawn in consequence of any such action; to treat all cheques, drafts, bills, promissory notes, acceptances, negotiable instruments and orders as being endorsed on behalf of the Trust and to discount or otherwise deal with them; to grant at our request for the account of the Trust overdraft, loan and/or other credit facilities on behalf of the Trust and for the securing of such accommodation to take assignment, charge or mortgage over any assets of the Trust; to pay against the signature of the Authorised Signatory(ies) (as defined below) any monies held to the credit of any account in our name designated for the account of the Trust; to honour and comply with all written instructions to deliver, dispose of or deal with any securities, documents or property held by the Bank on our behalf as trustees for the account of the Trust whether for safe-keeping or by way of security (subject to the Bank’s rights in connection therewith);

3.2 3.3

3.4 3.5

Rothschild Bank International Limited St Julian’s Court St Peter Port, Guernsey Channel Islands GY1 3BP

Telephone +44 (0)1481 713713 Facsimile +44 (0)1481 727705 marketing@rothschild.com www.rothschild.gg

provided any such cheques, drafts, bills, promissory notes, acceptances, negotiable instruments, orders or instructions are signed or purport to be signed by
(See Note)

(the “Authorised Signatory(ies)”) and in the event that instructions are to be given to the Bank otherwise than by all of us we confirm that we are duly empowered under the Trust’s trust deed so to delegate such authority. Note: Insert, for example, “any one of us”, “any two of us”, “both of us” or “all of us” or for corporate trustees as appropriate. All instructions to be given to the Bank pursuant to this Trust Account Resolution and Mandate in the name of a corporate trustee may be given under the signature of any duly authorised officer of that corporate trustee as from time to time notified in writing to the Bank and such corporate trustee confirms that it is duly empowered under the Trust’s trust deed to act by its authorised officers. 4 in acting upon any instructions given pursuant to and in accordance with this Trust Account Resolution and Mandate, the Bank shall be deemed to have acted in accordance with the Trust’s trust deed and we hereby agree to indemnify and keep indemnified the Bank from and against any and all claims, demands, actions, proceedings, costs and damages which may be brought or made against or charged or incurred by the Bank by reason of the Bank having acted upon instructions given pursuant to and in accordance with this Trust Account Resolution and Mandate; we confirm that all monies, securities, documents or property from time to time held in the said account or to the order of the said account will at all times be held by us in our capacity as trustees of and subject to the Trust; we undertake forthwith to give notice to the Bank of any change of trustees of the Trust and to lodge with the Bank a certified copy of every deed of retirement and appointment. The Bank shall not otherwise be responsible for not being aware of the death or cessation of authority of any of the Authorised Signatories or trustees, in the case of private trustees; our liability hereunder shall be limited to any assets from time to time held by us as trustees of the Trust; this authority and our liability hereunder as trustees for the account of the Trust shall continue in full force and effect until the Bank receives notice in writing of any change of trustees of the Trust; and this mandate is subject always to the Bank’s standard Terms and Conditions or any other agreement which may exist between ourselves as trustees of the Trust and the Bank.

5

6

7 8

9

Names and Specimen Signatures of Authorised Signatories
Dated this Day of (Month) 2 Full name Signature (Year)

1 Full name Signature

3 Full name Signature

4 Full name Signature

5 Full name Signature

6 Full name Signature

7 Full name Signature

8 Full name Signature

9 Full name Signature

10. Full name Signature

We hereby certify that the above resolutions were duly and validly passed, in accordance with the provisions contained in the Trust’s trust deed and any other documents by which the Trust is governed, and that they were duly recorded by the trustee(s).
Trustee(s) signature Date

abc
Rothschild Bank International Limited St Julian’s Court St Peter Port, Guernsey Channel Islands GY1 3BP Telephone +44 (0)1481 713713 Facsimile +44 (0)1481 727705 marketing@rothschild.com www.rothschild.gg

October 2007


				
DOCUMENT INFO
Shared By:
Stats:
views:90
posted:1/23/2010
language:English
pages:4
Description: Trust Account Resolution and Mandate