Forms > This page

Preparing proper documentation and utilizing paper work correctly

Item 1:  Corporate Board Resolution 
Item 2:  Power of Attorney
Item 3:  Photo Identification (ID)

The following documents are required for most transactions:

Item 1:  Corporate Board Resolution

Whether this is a public or private corporation (company) doing the transaction, The Board of Directors, must issue a 'Corporate Board Resolution' authorizing the company/corporation to undertake the specific transaction.  The 'Resolution' should be very specific (not broad based) specifying the following:

  • The Specific Transaction - BG, SBLC, Currency, etc.

  • The Transaction Amount.

  • What is to be Done - Sell the Instrument, Raise a Credit Line, Invest The Money,
    Move Money Off Shore, etc...etc. If not sure, use a phrase such as 'Convert such instruments listed herein, and utilize to company's benefit.'

  • The Transaction can involve more than one Instrument or Amount, but list them separately.

  • If a specific individual is to be in charge, specify that persons name and title.

  • If a Power of Attorney (pa) is to be issued, so stipulate in the Resolution, and to whom, and how long it is valid.  Also, see Power of Attorney, below.

  • The Board Resolution, must be issued in accordance with the articles of incorporation.  If not stipulated, then by a majority present and approving such 'Resolution.'

  • At least three (3) signatures are required on the 'Resolution.'

  • Three (3) copies of the 'Resolution' are usually required.

Item 2:  Power of Attorney

  • Power of Attorney (pa) should only be issued when the owner, or authorized representative can not actually attend the transaction.

  • The Power of Attorney (pa) must be specific, general power of attorney's are not acceptable in the financial community, especially for large transactions.

  • The Power of Attorney (pa) should be prepared by an attorney, have is stamp (chop) contained therein.

  • The Power of Attorney (pa) must have three (3) witnesses who must sign, date, and print their name and ID Number.

  • The Power of Attorney (pa) must be Notarized.

  • If a specific requirement within your host country is also required, such as placing a 'Government Stamp, or Registering the Document', it is advisable to do so,  provided it does Not alter the above international standardize banking requirements.

  • Remember, PA Holders Can NOT issue PA's to another person.

Item 3: Photo Identification (ID)

Clear and legible photo identification (ID) is required for all transactions.  Please provide the following:

  • Five (5) Color Copies of Your Current and Valid Passport.  This need to include the picture and pertinent pages, it may require 3 or 4 pages of the Passport, depending on Country of Issue to comply with this requirement.

  • Five (5) Color Copies of Your Personal Identification Card (I/C Card), many countries
    require this of their citizens or resident aliens.  Please provide front and back copies.

  • Five (5) Color Copies of another form of Personal Identification (I.D.) such as your drivers license.  Please provide front and back copies.

  • If you are a Resident Alien, you must also provide Five (5) Color Copies of this also. Please provide front and back copies.

  • If you are a US or Canadian Citizen, you also provide Five (5) B&W Photo Copies of Your Social Security Card.