Board Resolution Format for Fixed Deposit

CERTIFIED EXTRACT OF BOARD RESOLUTION: AUTHORIZATION FOR FIXED DEPOSIT PLACEMENT

Document ID: CORP-BR-FD-[YYYYMMDD]-001
Effective Date: [Date]
Version: 1.0
Governing Jurisdiction: [Insert State/Country, e.g., Delaware, USA]

LEGAL COMPLIANCE NOTICE

This document constitutes a formal corporate record. It is drafted for general institutional utility. Users must verify that the content aligns with the specific Bylaws, Articles of Incorporation, and applicable financial regulations of the governing jurisdiction. This document does not constitute formal legal advice; counsel should review this prior to execution to ensure compliance with local banking requirements and internal corporate governance mandates.

1. CORPORATE IDENTIFICATION AND RECITALS

WHEREAS, [Company Full Legal Name] (the "Company") maintains sufficient liquid capital reserves to engage in prudent treasury management; and

WHEREAS, the Board of Directors (the "Board") has determined that the placement of idle cash reserves into fixed-term interest-bearing instruments serves the best financial interests of the Company;

NOW, THEREFORE, BE IT RESOLVED, that the Board hereby authorizes the placement of capital into one or more Fixed Deposit accounts (the "Facility") with [Financial Institution Name] (the "Bank").

2. OPERATIVE CLAUSES

SECTION 2.1: AUTHORIZATION OF FACILITY
The Company is authorized to open and maintain one or more Fixed Deposit accounts with the Bank in the amount of [Amount in USD] (the "Principal Amount"). The duration of the term shall be [Term Duration, e.g., 12 Months], maturing on [Maturity Date].

SECTION 2.2: DESIGNATED SIGNATORIES
The following individuals are designated as "Authorized Signatories" and are hereby empowered, authorized, and directed to execute, deliver, and perform all documents, agreements, and instructions necessary to establish, maintain, and terminate the Facility on behalf of the Company:

1. [Name of Signatory 1], [Title]
2. [Name of Signatory 2], [Title]

SECTION 2.3: DISPOSITION OF PROCEEDS
Upon the date of maturity, the Bank is instructed to remit the Principal Amount plus accrued interest to the Company’s primary operating account ending in [Last 4 Digits of Account Number], unless the Company provides written notice of intent to rollover the investment at least [Number] business days prior to maturity.

SECTION 2.4: INDEMNIFICATION
The Company agrees to indemnify and hold harmless the Bank from and against any and all claims, damages, liabilities, and expenses arising out of or related to the Bank’s reliance on this Resolution, provided the Bank acts in good faith and in accordance with the instructions provided by the Authorized Signatories.

SECTION 2.5: TERMINATION
This Resolution shall remain in full force and effect until such time as the Board passes a subsequent resolution revoking or amending the authorities herein, and a certified copy of such revocation is delivered to the Bank.

3. EXECUTION AND CERTIFICATION

I, [Secretary/Director Name], acting as the [Secretary/Assistant Secretary/Director] of [Company Full Legal Name], do hereby certify that the foregoing is a true, correct, and complete copy of the resolution adopted by the Board of Directors at a meeting held on [Meeting Date], at which a quorum was present and voting, and that said resolution has not been rescinded or modified.

FOR [COMPANY FULL LEGAL NAME]:

Signature: _____________________________________
Printed Name: [Authorized Signatory Name]
Title: [Title / Role]
Company: [Company Legal Name]
Date: [Date]

ATTESTED BY:

Signature: _____________________________________
Printed Name: [Secretary/Director Name]
Title: Corporate Secretary
Date: [Date]

4. STEP-BY-STEP EXECUTION AND FILING GUIDE

1. Fillable Fields: Utilize the "Find & Replace" function in your word processor to replace all bracketed [ ] text with the specific, verified details of your organization and the counterparty Bank.
2. Verify Authority: Ensure that the individuals named as Authorized Signatories are current officers or directors as registered in your corporate filings (e.g., Form 10-K, Annual Report, or Articles of Incorporation).
3. Board Approval: This document must be presented at a formal meeting of the Board of Directors. The minutes of said meeting must explicitly record the approval of this resolution.
4. Digital Execution: For digital signature platforms (DocuSign/Adobe Sign), upload the finalized PDF and configure the signing order to ensure the Corporate Secretary signs last to certify the resolution.
5. Record Retention:
   • Internal: File the original signed copy in the Corporate Minute Book.
   • External: Deliver a certified copy to the Bank’s Relationship Manager or Treasury Services department.
   • Digital: Maintain a secure, read-only digital archive of the document for the duration of the Facility plus seven (7) years to satisfy audit requirements.