Discerning When To Use A Self Inking Stamp VS Company Seal

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Realistically speaking, the same purpose can be fulfilled by either a self inking stamp or company seal in a business setting. Both can be used to authorise important business agreements, contracts and other related matters. The only difference is the method of application for each resource. So why is it recommended to get both of them when they basically achieve the same results? If you have both, how do you know when to use which?

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Discerning When To Use A Self Inking Stamp VS Company Seal:

Discerning When To Use A Self Inking Stamp VS Company Seal

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

Realistically speaking, the same purpose can be fulfilled by either a self inking stamp or company seal in a business setting. Both can be used to authorise important business agreements, contracts and other related matters. The only difference is the method of application for each resource. So why is it recommended to get both of them when they basically achieve the same results? If you have both, how do you know when to use which? Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

Let’s consider the basics: What They Are A company seal (also called a common seal) is an official seal that is customised and issued to business owners. Though you can choose to customise it accordingly, the necessary information on your company seal must include: - The official (and accurate) name of your business - The issued registration number (UEN) Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

Then there’s the self inking stamp, which is a modified version of the traditional type of rubber stamps we usually see. An ink pad is built into the self inking stamp so you won’t have to carry around a large ink pad whenever you need to use it. For the most part, this kind of stamp includes: - Your company’s official name (according to what is registered) - The identification/registration number (UEN) - Other details like mailing addresses or a representative logo (if there’s large enough space) Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

When Should Each Resource Be Used? As aforementioned, both a self inking stamp and company seal can be used as ways of endorsement. But as of now, a company seal can also be used for matters that fall under common law jurisdiction in Singapore. Any contracts and documentation that is legally required to be produced in writing should usually come accompanied with an embossed mark from a company seal. This includes things like contracts, banking documents, deeds, property transactions and more. Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

In recent times though, things have been further revised so that you won’t have to make use of your company seal for these documents. Provided that all the terms included in the Companies Act (section 41B) can be followed accordingly. Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

Based on the revised edition, you can execute deeds without the use of a company seal if there are signatures from: - Both the appointed company secretary and a director of the business - A minimum of two directors from the company - The company director with a witness there to attest the signature signing process Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

Now for the use of a self inking stamp, you can also take a look at the Company Act (144(1A)) for guidance. The section clearly notes that all business documents that require signed approvals (publications, account statements, notices, letters and more) need to be accompanied with a legible inclusion of your company’s official registration number (UEN). In such cases, you can use your self inking stamp to stamp them on and forgo it if the name and registration number is already printed there. Are you looking for common seal or company seal ? Then check out the website Kiasu Print

Are you looking for common seal or company seal? Then check out the website Kiasu Print:

To summarise: The use of a company seal is no longer considered as important as before, however it is still prudent to keep one in the event that you’ll need to use them for legal purposes. Whereas the use of a self inking stamp is one of everyday convenience for most business operations, which is why you see more and more companies gradually making the switch in using them. Are you looking for common seal or company seal ? Then check out the website Kiasu Print

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