Contracts, Seal and Other Instruments
Execution of Contracts
- The seal shall be the seal of the Branch.
- All contracts or other instruments in writing, out of the ordinary course of business of the Branch, or within the ordinary course of business of the Branch but incurring obligations exceeding $5,000, shall unless otherwise provided by a resolution of the Executive Committee authorizing same, be signed by the President or the Treasurer and the Executive Director or in the absence of the Executive Director by any other member of the Executive Committee. All other contracts or other instruments in writing may be signed by the Executive Director or by any member of the Executive Committee. Any contact or instrument so signed shall be received as the act of the Branch.
- All cheques, drafts and other negotiable instruments for amounts not exceeding $500.00, shall be signed on behalf of the Branch by any two members of the Executive Committee or by any member of the Executive Committee and the Executive Director. All cheques, drafts and other negotiable instruments for amounts less than $500.00 may be signed by any member of the Executive Committee or by the Executive Director.
- No cheque for, or payment of any expenditure which would cause the Branch budget for that expense item to become 10% over budget, shall be issued without the approval of the Executive Director and the Treasurer.
- All grant and funding contracts or applications made by the Branch shall be signed by the President or the Executive Director.