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Board Resolution For Sole Proprietorship for Philippines

Board Resolution For Sole Proprietorship Template for Philippines

A Board Resolution for Sole Proprietorship is a formal document used in the Philippines to document and validate important business decisions made by a sole proprietor. Despite sole proprietorships not having a traditional board of directors, this document format is widely accepted by banks, government agencies, and other institutions as proof of the proprietor's authority and decision-making. The document follows Philippine business law requirements and typically includes the proprietor's details, business registration information, specific resolutions, and implementation directives.

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Board Resolution For Sole Proprietorship

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What is a Board Resolution For Sole Proprietorship?

A Board Resolution For Sole Proprietorship is a crucial document used in the Philippine business context to formalize and document important business decisions made by sole proprietors. While sole proprietorships don't have a traditional board structure, this type of resolution is often required by banks, government agencies, and other institutions to verify the proprietor's authority and document significant business decisions. The document must comply with Philippine business laws and regulations, including requirements from the Department of Trade and Industry (DTI) and local government units. It's particularly important for major business actions such as opening bank accounts, applying for loans, authorizing representatives, or entering into significant contracts. The resolution should reference relevant business registration details and clearly state the specific decisions being made.

What sections should be included in a Board Resolution For Sole Proprietorship?

1. Title and Date: Formal title of the resolution and date of execution

2. Business Details: Complete business name, DTI registration number, business address, and proprietor's details

3. Recitals: Background information establishing the context and purpose of the resolution

4. Authority Statement: Statement confirming the sole proprietor's exclusive authority to make business decisions

5. Resolution Content: The specific decision or action being formalized through the resolution

6. Implementation Authority: Authorization for specific individuals to implement the resolution's decisions

7. Certification: Formal certification by the sole proprietor of the resolution's authenticity

8. Signature Block: Space for proprietor's signature and date of signing

What sections are optional to include in a Board Resolution For Sole Proprietorship?

1. Witnesses: Section for witness signatures when required for specific transactions or by receiving parties

2. Notary Public: Notarization section when required for legal or banking purposes

3. Terms and Conditions: Specific terms related to the resolution's implementation when dealing with complex decisions

4. Compliance Statement: Statement confirming compliance with relevant laws and regulations when dealing with regulated matters

What schedules should be included in a Board Resolution For Sole Proprietorship?

1. Business Registration Documents: Copies of DTI registration, business permits, and other relevant registrations

2. Supporting Documents: Any relevant documents supporting the resolution (contracts, agreements, etc.)

3. Government IDs: Copies of the proprietor's valid government-issued identification

4. Special Powers of Attorney: If applicable, documents delegating specific powers to authorized representatives

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




















Clauses




















Relevant Industries

Retail

Food and Beverage

Professional Services

Construction

Manufacturing

Agriculture

Technology

Healthcare

Real Estate

Transportation and Logistics

Education

Personal Services

Relevant Teams

Legal

Compliance

Administration

Finance

Operations

Business Development

Risk Management

Corporate Secretariat

Relevant Roles

Business Owner

Sole Proprietor

Business Manager

Legal Counsel

Compliance Officer

Administrative Officer

Finance Manager

Operations Manager

Business Development Manager

Account Manager

Company Secretary

Risk Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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