It is desirable to have a company seal because its use is #beneficial in various regards like:
- Company resolutions
- Signing and sealing Important Contracts and Deeds required to be under seal (for example property transfer (landed in most cases) and execution of land contracts by or on behalf of the company)
- Execution of loan documents, mortgages, and guarantees.
- Occasions where a document will be utilized out the country.
- Creating power of attorneys.
- Issuance of share certificate.
- Application for Tax Clearance Certificate and VAT registration with the FIRS
You may also see sections 69(d), 71(a), 74, 75, 76(1), 146(3), 167,... etc of the Companies and Allied Matters Act.
Have no fear still, the seal can be constructed as you desire, so long as it refers to the company. Seal carvers can be found around the High Court premises and they charge roughly #4,000 (four thousand Naira).
Finally, kindly note that the custody and use of the seal shall be as regulated / stipulated in the Articles of Association.
Hope you find this helpful.
1 year, 2 months ago
Please are you talking about seal carvers or stamp carvers. I believe seal and stamp are two different things but they provide the same results