The "Approval Signatures" clause outlines the requirement for key stakeholders or designated authorities to provide their signatures as a formal indication of agreement or authorization for the contract. This clause ensures that all parties involved have reviewed and consented to the terms, making the contract legally binding and enforceable.
Approval Signatures: CryoLife, Inc.: By: __/s/ Pat Mackin___________________ Title: __President and CEO_________________ Date:_December 4, 2020_____________________________ Duke University: By: __/s/ Aimee Turner________________ Title: __Chief Financial Officer, DCRI____ Date:_Dec. 8, 2020__________________________
Company Approval Signatures : Director 1: /s/ Michael Gaard Director 2: /s/Victor Tong
Approvals do not have to be on the same sheet; however all of the sheets bearing the approval signatures must be affixed in the resolution book of the Board of Directors in order for the resolution to be valid.
Any subcontract work received over $75,000 requires approval signatures from the Chief Financial Officer and general manager.
Review and consider pre-approval requests from Access Persons; ensure approval signatures are secured from appropriate ARGA individuals.
Having all the approvals on the same paper is not a condition; however, all of the papers with approval signatures have to be attached to the decision book of the Board of Directors or its format must be changed into a resolution that includes the signatures of those who have approved and recording it in the decision book is required for the validity of the decision. Objections made in respect to the decision by a member of the Board of Directors who did not request a meeting, does not affect the validity of the decision.
The analyst will compile and prepare a waiver (basis for approving a credit line without financial statements.) Waivers will be kept on file for audit purposes. In all cases, the following approval signatures are required to extend credit limits to customers.
Our lenders have the authority to extend credit under guidelines established and approved by the Board of Directors. With the exception of secured consumer loans, joint approval signatures are required for all loans.
The identified weaknesses include failing to properly document the required dual approval and multiple approval signatures for expenses greater than $250,000, reliance on a third-party accounting service provider creating gaps in internal control compliance which were not communicated to management and incidences in the lack of supportive documentation for expense reimbursement.
The material weaknesses previously identified included failure to properly document the required dual approval and multiple approval signatures for expenses exceeding $250,000, reliance on a third-party accounting service provider that caused gaps in internal control compliance. To improve control and oversight of the operational creditor processes, we have brought the processes in-house. Specifically, this involved automating processes and integrating the correct approval workflows with the necessary parameters in the accounting system. This change strengthens our internal controls and ensures compliance with US GAAP.
An approval signature is an official mark or sign-off that indicates agreement, authorization, or acknowledgment of a document’s contents. It serves as a way to formalize consent and is often used in various professional and legal contexts to authenticate the agreement of parties involved.
Approval signatures should be utilized in any situation where formal consent, acknowledgment, or authorization is required. This includes, but is not limited to:
Writing an approval signature typically involves the following steps:
Signature
John Doe
Printed Name
John Doe
Date
10/20/2023
Title/Position
Director of Operations
Approval signatures are a common element in various types of contracts, including:
These signatures serve as a critical component in solidifying the legal enforceability of such documents.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
An arbitration clause is a provision in a contract that requires the parties to resolve any disputes through arbitration rather than through litigation in court. This clause typically outlines the process for initiating arbitration, the selection of arbitrators, and the jurisdiction where arbitration will occur.
An "as is purchase" clause indicates that the buyer agrees to accept a product or property in its current condition, with all existing faults and defects, without the seller being responsible for any repairs or improvements. This clause limits the seller's liability, placing the onus on the buyer to thoroughly assess the purchase before finalizing the transaction.
The assignability clause in a contract specifies whether and under what conditions a party can transfer their rights and obligations to another party. It typically requires consent from the non-assigning party or outlines restrictions and exceptions regarding the assignment of contractual duties.
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