Board Resolution for signing Bill of Exchange & Promissory Note

The Board of Directors of a company may delegate the powers to certain officers or directors or employees with regard to authority for preparation, signing and issue of negotiable instruments in the name of the company.

Templates of board resolution for authorisation with regard to negotiable instruments like bills of exchange, promissory note, etc are given hereunder for reference.—

FORMAT #1

#. Authority to sign and issue bills of exchange and promissory note

“RESOLVED THAT (Name of the Officer), (Designation) and (Name of the Officer), (Designation) be and is hereby jointly/severally authorised to make, draw, accept and endorse any bill of exchange and promissory note in the name of the company as and when may be required in the course of the day to day affairs of the company.”

FORMAT #2

#. To authorise officials for signing the negotiable instruments

“RESOLVED THAT the following officers of the company be and is hereby authorised, on behalf of the company, to make, draw, accept, issue, sign and endorse the bills of exchange, promissory notes, exchequer bills, hundies, pay orders, delivery orders, bearer instruments, inland instruments, customer bills in the name of the company as and when necessary, subject to the limit given hereunder:

S.No.	Name of the Officer, Designation	Authority	Limit
1.	ABC, General Manager	Singly	Rs. 1,00,000
2.	MNL, Asst. Manager	Singly	Rs. 1,00,000
3.	ABC and MNL	Jointly	Rs. 10,00,000
4.	XYZ, Managing Director	Singly	No limit

FURTHER RESOLVED THAT the above authorised signatories be and is hereby authorised to do all such acts, deeds and things as may be necessary in this connection.”