Document background
A Corporate Borrowing Resolution is a critical governance document required when a Singapore company seeks to obtain financing or credit facilities. It serves as evidence that the board of directors has properly authorized the borrowing and designated specific individuals to execute related documentation. The resolution must align with Singapore's Companies Act requirements and the company's constitutional documents, particularly regarding borrowing limits and approval thresholds. It typically includes details about the type and amount of borrowing, security arrangements if any, and specific powers granted to authorized signatories.
