Prepare a Directors Resolution and Authorization re Fax Instructions to Bank with this template form for a corporation based in Canada.
- The Board of Directors authorizes the corporation to provide its bank with the authority to accept fax (facsimile) transmissions as sufficient authorization to make payments on its behalf and to debit the corporation's account.
- The corporation indemnifies the bank with respect to acting in accordance with the resolution.
- The file includes an Authorization Form to be kept on file with the bank.
This Canada Directors Resolution and Authorization re Fax Instructions to Bank template is available as a MS Word form. Downloadable and fully customizable to meet your company's needs.
RESOLUTIONS OF THE DIRECTORS OF __________ (insert legal name of corporation) (the “Corporation”) FACSIMILE INSTRUCTIONS WHEREAS the Corporation has found it necessary from time to time to use facsimile (“fax”) transmission to instruct __________ (insert legal name of bank) (the “Bank”) to effect payments on its behalf and in order to continue such an arrangement the Bank requires the Corporation to provide its written authorization outlining procedures in that regard. BE IT RESOLVED THAT: 1. The Corporation authorize the giving of instructions by fax to the Bank as a means to permit the Bank to effect payments on the Corporation’s behalf and that the Corporation shall provide to the Bank, in the form annexed hereto, its written authorization to that effect; 2. The execution of such authorization shall be by any one of the President and/or the Secretary; 3. Upon execution of such authorization by the Corporation and the acceptance of same by the Bank, the Corporation shall be bound to follow the procedures outlined in such authorization and shall undertake to hold the Bank harmless from and indemnified against all loss, costs, damages and expenses arising out of the utilization of such instructions and authorizations, except where such loss is due to the Bank's own gross negligence or that of its employees. DATED at _________________ (insert city, province) this ______ day of ________, _______. The undersigned being all of the directors of the Corporation, hereby adopt the foregoing resolutions pursuant to the provisions of the Business Corporations Act. [insert name of director here] [insert name of director here] [insert name of director here] [insert name of director here] AUTHORIZATION RE: PAYMENT INSTRUCTI
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