Execution of Documents Policy

Version: 1.0
Approved: March 4th, 2019

Purpose:

The purpose of this policy is to define responsibilities and limitations regarding the execution of documents, contracts, and instruments in writing applying to the MST.

Definitions:

Director A member of the Board of Directors of the MST.
Board The Board of Directors of the MST.
Contract Includes, but is not limited to, any written agreement, contract, subcontract, letter of intent, memorandum of understanding, memorandum of agreement, lease, deed, transfer, instrument, assignment, obligation, certificate or other document, the provisions of which may be binding upon the MST and which relate to the day-to-day operations.
Expenditures Business expenditures in support of MST business including but not limited to: conferences and workshops, hospitality and travel.

Policy:

  1. Execution of Documents
    1. The powers to execute a contract, document or any instrument in writing shall be in accordance with the Bylaws of the MST.
    2. Contracts over $500, contracts of a duration longer than 1 year, or of significant impact on the MST as assessed by the Board require approval by the Board prior to execution.
    3. Deeds, transfers, assignments, contracts, obligations and other instruments in writing requiring execution by the MST may be signed by any two (2) of its Directors.
    4. In addition, the Board may from time to time direct the manner in which and the person or persons by whom a particular document or type of document shall be executed.
    5. No document shall be signed unless there is compliance with all MST policies and applicable legislation.
    6. The Treasurer must be provided with a copy of any and all documents signed, forthwith after execution.
  2. Certification of Documents
    1. Any signing Director may certify a copy of any instrument, resolution, by-law or other document of the MST to be a true copy thereof.

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