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Partnership Resolution Format

This document is a partnership resolution from a Philippine partnership. It authorizes the partnership to open bank accounts and conduct banking transactions with UnionBank of the Philippines. It designates authorized signers for bank accounts and loans. It also authorizes the partnership to obtain loans and credit facilities from the bank, secured by partnership assets if required, and designates authorized signers to negotiate loan terms. The resolution states that the partnership will reimburse the bank if checks purchased are dishonored and will keep the bank free from losses in complying with partnership instructions.
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0% found this document useful (0 votes)
452 views

Partnership Resolution Format

This document is a partnership resolution from a Philippine partnership. It authorizes the partnership to open bank accounts and conduct banking transactions with UnionBank of the Philippines. It designates authorized signers for bank accounts and loans. It also authorizes the partnership to obtain loans and credit facilities from the bank, secured by partnership assets if required, and designates authorized signers to negotiate loan terms. The resolution states that the partnership will reimburse the bank if checks purchased are dishonored and will keep the bank free from losses in complying with partnership instructions.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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(REPUBLIC OF THE PHILIPPINES)

_________________________) S.S.

PARTNERSHIP RESOLUTION

We, _________________________and_____________________________ , Filipinos, both of legal age, with


principal office address at ________________________________, being the Partners of__________________,
(the “Partnership”), a partnership duly organized and existing under and by virtue of Philippine laws, under
oath, depose and certify that during the meeting of the following Owners / Partners:

NAME TITLE PERCENTAGE OF OWNERSHIP

held on ____________________, wherein a quorum was present and acted throughout, the following
resolutions consistent with the Articles of Partnership and By-Laws of the Partnership were approved:

FOR DEPOSIT ACCOUNTS/PLACEMENTS/INVESTMENTS/CASH MANAGEMENT AND


OTHER BANK PRODUCTS

"RESOLVED, to authorize the Partnership to open and maintain Peso / Dollar / Acceptable Third
Currencies Savings / Current / Time Deposit Account(s) with UNIONBANK OF THE PHILIPPINES (the
"Bank") and to make deposits, placements and/or investments or trusts and to avail of cash management
facilities and other products / services of the Bank as may be appropriate for the Partnership to effectively
manage its collections and disbursements therein and, in connection therewith, to authorize:

( ) ANY ONE ( ) ANY TWO

of the following designated officers of the Partnership, namely:

NAME TITLE / DESIGNATION SPECIMEN SIGNATURE

__________________________ _____________________ ____________________

__________________________ ____________________ _____________________

To sign, execute and deliver any and all documents relative thereto; to sign for and in behalf of the Partnership
any and all the checks, drafts, bills of exchange, withdrawal slips, orders of payment and similar instruments
drawn against said Account(s); to endorse checks, drafts, notes and other instruments for negotiation or
payment or for deposit and collection or withdrawal from said Account (s).”

FOR LOANS/CREDIT ACCOMMODATIONS AND SECURITY ARRANGEMENTS

"RESOLVED, to authorize the Partnership to borrow, apply for, negotiate and/or secure a loan and/or
other credit accommodations and facilities from the Bank in the principal aggregate amount of
PESOS: ______________________________________________________________________________
as well as temporary excesses or permanent increases thereon as may be approved by the Bank from time to
time; to obtain additional loans, or credit facilities and accommodations for such amounts as may be determined
by the authorized signatories herein and approved by the Bank; discount and/or negotiate drafts, commercial
papers, receivables of the Partnership of whatever nature; purchase, exchange, sell or otherwise deal in or with
stocks, bonds or other securities, bills and checks, including without limitation third party checks drawn in favor
of the Partnerships and/or checks otherwise indorsed by the Partnership as second endorser thereof which the
Partnership agrees to be bound to the Bank in case of their dishonor upon presentment; bind the Partnership as
guarantor or surety of the obligations of third persons, affiliates or subsidiaries of the Partnership for such
amount/s as the authorized officers mentioned herein may deem to be in the best interest of and in furtherance
of the business of the Partnership, as well as to mortgage, pledge, assign or otherwise encumber in favor of the
Bank any or all assets or properties of the Partnership, whether real or personal, tangible or intangible, inclusive
of but not limited to the following:

2/2
Description of Collateral / Security

as security for said loans or credit accommodations and facilities which may be required by the Bank and under
such terms and conditions as may be agreed upon with the Bank; and for this purpose, to authorize:

( ) ANY ONE ( ) ANY TWO

of the following officers designated by the Partnership, namely:

NAME TITLE / DESIGNATION SPECIMEN SIGNATURE

_________________________ ____________________ _______________________

_________________________ ____________________ _______________________

to negotiate and agree to such terms and conditions of said loan(s) or credit accommodation(s) as may be
required by the Bank, and to effect renewals or amendments thereof or supplements thereto, whether such
renewals, amendments or supplements are in the nature of new or separate transactions, and to sign, execute and
deliver, for and in behalf of the Partnership, all documents, papers and deeds which may be required by the
Bank in connection with said loans or credit accommodations and security arrangements, and to enter into any
settlement with the Bank in all matters affecting the transactions made in accordance with the authorities
granted herein."

“RESOLVED, that the Partnership hereby agrees and undertakes to reimburse “Bank” for any and all
amounts of money that may have been credited by the Bank to the Partnership's accounts in the event that any
of the checks purchased by the Bank under this resolution were dishonored by the drawee banks thereof.”

“RESOLVED FURTHER, that the Partnership shall be considered fully bound by such medium of
instructions, and by the terms and conditions of “Bank’s” standard forms for the authorized transactions, to the
same extent and in the same manner as if it “Bank’s” standard forms had been accomplished for the purpose.”

“RESOLVED STILL FURTHER, that the Partnership shall keep the “Bank” free and harmless from
any losses which the Partnership may suffer by reason of the Union Bank’s acknowledgement of this notice.
The Partnership shall indemnify “Bank” against all losses, claims, actions, proceedings, demands, damages,
costs and expenses incurred or sustained by it as a result of its reliance and/or compliance with such
communications.“

"RESOLVED FINALLY, that the foregoing authorities shall remain in full force and effect and
binding on the Partnership unless otherwise revoked, amended or modified in writing and notice to this effect is
received by the bank from the Partnership ”

Executed this day of _____________________________________ at ____________________.

___________________________________ ______________________________________
Partner’s Signature Over Printed Name Partner’s Signature Over Printed Name
TIN: TIN:

ACKNOWLEDGEMENT

SUBSCRIBED AND SWORN to before me this ________day of _________ , 20___ in _______________, Philippines, the
following exhibiting to me his/her:

Name Community Tax Certificate No. Date Issued / Place of Issue

Partner A _______________________________ ___________________________


Partner B _______________________________ ___________________________

NOTARY PUBLIC
Doc. No.
Page No.
Book No.
Series of 2021.

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