Business

Common Seal Types and Their Uses

For decades, companies have been using seals for the purpose of authenticating documents issued by the company. Authorizing documents using a common seal in Singapore can ensure the document’s authenticity and make it look proper.

Common seal is now less important because laws no longer require documents to be authorized with a mark of a common seal. Instead, they only need to be signed by a person of authority in the company.

Apparently, company seal is not the only seal that is beneficial for companies. There are several more types of seals that can be advantageous for office work and increase productivity.

1. Common Seal

This one is the most known seal in a company. As briefly explained prior, a company seal is a seal that is used to authorize documents that are going to be released by a company. It is the official representation of the company, so any use of this seal should not be taken lightly of. Only people with the highest authority and utmost responsibility should approve the use of this seal, such as the company’s CEO or president.

2. Financial Seal

A financial seal handles financial related issues. Commonly, this seal is used for opening a bank account for a company upon company incorporation and registration. It can also be used for authorizing cheques. The bank will usually require the company to provide the seal for authentication.

3. Legal Representative Seal

For legal representative matters, this seal is very useful. A legal representative seal represents the company as a whole instead of only representing one person’s decision, for example the CEO or president only. All decision of a company must be first discussed before approved with a seal. This legal representative seal is also used with the financial seal for the process of bank account opening as an evidence of authorization by the company.

4. Contract Seal

This type of seal is used for authorizing and approving contracts that are entered by the company. Although its use can be replaced by a company seal, it is always beneficial to have more seal to do the work so that it can be done quicker.

5. Invoice Seal

An invoice seal is used to authorize invoices that are issued by a company so that it can avoid suspicion and proves that it is authentic.

Although in general a company seal can handle most of the other types of seals’ works, it is advantageous to make more seals for specific works so that the company can authorize various types of documents in a more efficient way to be more productive. In making seals for your company, make sure that you get the best quality seals so that you can maintain a good image every time you approve documents. Your clients or business relations may be able to judge your work and seriousness in doing business by the littlest things, much like a simple seal. If you wish to create a healthy business relationship, you must be able to always convince your partners that you are the best.

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