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A Board Resolution For Purchase of Equipment is a crucial corporate document required under Philippine corporate law when a company needs to formally authorize the acquisition of significant equipment or machinery. This document is typically necessary when the purchase value exceeds certain thresholds specified in the company's bylaws or when corporate governance requirements mandate board approval. The resolution must comply with the Revised Corporation Code of the Philippines and should be maintained in the corporate records as evidence of proper authorization. It outlines the board's deliberation and approval of the purchase, including specific details about the equipment, financial terms, and designated individuals authorized to execute the transaction. This document is particularly important for audit trails, corporate compliance, and protecting the interests of both the corporation and its stakeholders.

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Corporate Details: Full legal name of the corporation and registered office address

3. Attendance and Quorum: List of board members present and confirmation of quorum requirements being met

4. Recitals: Background information explaining the need for equipment purchase and its benefit to the corporation

5. Resolution Statement: The formal 'RESOLVED' statement detailing the board's decision to purchase the equipment

6. Equipment Details: Specific description of the equipment to be purchased, including specifications and quantity

7. Financial Terms: Approved purchase price, payment terms, and source of funds

8. Authorization: Names and designations of persons authorized to execute the purchase and related documents

9. Certification: Secretary's certification that the resolution was duly adopted at a valid board meeting