Board Resolution Format for M1xchange

CERTIFIED BOARD RESOLUTION: AUTHORIZATION FOR PARTICIPATION IN M1XCHANGE PLATFORM

Document ID: RES-M1X-2024-[INTERNAL_ID]
Effective Date: [Date of Board Meeting]
Version: 1.0
Governing Jurisdiction: [State/Country of Incorporation]

STATUTORY & LEGAL COMPLIANCE NOTICE

This document is a formal template provided for institutional use. It is the responsibility of the User to ensure compliance with local corporate bylaws, the Articles of Incorporation, and the specific regulatory requirements of the relevant Trade Receivables Discounting System (TReDS) or M1xchange platform. This document constitutes legal drafting guidance; it does not replace the advice of localized legal counsel. Ensure that the resolution is entered into the company’s Minute Book as required by applicable corporate law.

CERTIFIED EXTRACT FROM THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY FULL LEGAL NAME]

HELD ON: [Date] AT [Time]
AT: [Principal Address of the Company]

WHEREAS:

1. The Board of Directors (the "Board") of [Company Full Legal Name] (the "Company") has reviewed the business necessity of optimizing working capital and liquidating trade receivables via the M1xchange platform (the "Platform"), operated by Mynd Solutions Private Limited (or relevant local entity).
2. The Company intends to participate in the discounting of trade receivables through the Platform to enhance liquidity and credit efficiency.

OPERATIVE RESOLUTIONS

1. AUTHORIZATION TO ENGAGE: RESOLVED THAT the Company be and is hereby authorized to register, onboard, and participate as a "Seller" (or "Buyer," as applicable) on the M1xchange Platform, and to execute all necessary agreements, including but not limited to the User Agreement, Power of Attorney, and electronic mandate forms required by the Platform.

2. APPOINTMENT OF AUTHORIZED SIGNATORIES: RESOLVED FURTHER THAT [Name of Signatory 1] ([Title]) and [Name of Signatory 2] ([Title]) (the "Authorized Signatories") be and are hereby severally or jointly authorized to execute, sign, seal, and deliver, on behalf of the Company, any and all applications, agreements, deeds, declarations, and other ancillary documents required to facilitate participation on the M1xchange Platform.

3. SCOPE OF SERVICES & TRANSACTIONS: The Authorized Signatories are empowered to approve the discounting of trade receivables up to a maximum aggregate limit of [Amount in USD] at any given time, subject to the credit limits assigned by the platform participants. The Authorized Signatories are further authorized to instruct the Company’s bankers to facilitate payments and receipts via the Platform in accordance with the Platform's standard operating procedures.

4. LIMITATION OF LIABILITY & INDEMNIFICATION: The Company agrees to indemnify and hold harmless the M1xchange Platform and its respective officers, directors, and employees from and against any and all claims, damages, losses, and expenses arising out of the Company’s use of the Platform, provided that such claims do not arise from the gross negligence or willful misconduct of the Platform operator.

5. INTELLECTUAL PROPERTY & DATA PRIVACY: The Company acknowledges that all proprietary data, interfaces, and intellectual property provided by the M1xchange Platform remain the exclusive property of the Platform operator. The Company warrants that all data uploaded to the Platform is accurate, free from encumbrances, and complies with applicable data protection laws.

6. DISPUTE RESOLUTION: Any dispute arising from the participation on the M1xchange Platform shall be subject to the Governing Law stipulated in the platform’s master agreement, which shall be binding upon the Company upon the electronic execution of the platform participation terms.

7. CERTIFIED TRUE COPY: RESOLVED FURTHER THAT a copy of this resolution be provided to M1xchange (Mynd Solutions Private Limited) or any relevant financial institution, and that they may rely upon this resolution until a subsequent resolution is passed by the Board and a certified copy is provided to them.

EXECUTION & FORMAL SIGNATURE BLOCKS

FOR [COMPANY FULL LEGAL NAME]:

Certified as a true and correct copy of the resolution passed by the Board of Directors of [Company Full Legal Name] at the meeting held on the date first mentioned above.

Signature: _____________________________________
Printed Name: [Name of Chairman/Director]
Title: [Title / Role]
Date: [Date]

ATTESTED BY (SECRETARY):

Signature: _____________________________________
Printed Name: [Name of Company Secretary]
Title: Company Secretary / Authorized Director
Date: [Date]

STEP-BY-STEP EXECUTION & FILING GUIDE

1. Preparation: Fill all bracketed fields in the document using Microsoft Word. Ensure the "Authorized Signatory" names match the names registered with your Corporate Registry.
2. Board Approval: Present this document at a duly convened Board meeting. Record the motion, the proposer, the seconder, and the voting results in your official Minute Book.
3. Authentication: The Chairman of the meeting or the Company Secretary must sign the resolution.
4. Digital Execution: If M1xchange or participating banks require a digital copy, utilize an e-signature platform (DocuSign/Adobe Sign) that provides an audit trail. Ensure the exported PDF includes the "Certificate of Completion" attached to the document.
5. Corporate Seal: If your jurisdiction or Articles of Association require the affixing of a physical Common Seal, do so in the presence of the required directors.
6. Record Retention: File the original signed resolution in the Company’s Minute Book. Retain a digital version in your legal department’s secure repository for the duration of the engagement plus the applicable statutory limitation period (typically 7–10 years).