Common Seal / Company Seal (Common / Company / Wax Seal)
How to Get Company Seals / Common Seals
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Looking for a pocket size company/ common seal which can be easily assembled and disassembled, to imprint your own distinctive mark on legal documents?
Kiasu Print’s common seal offer is the ideal selection to pick and it also comes with free 5 common seal stickers (in red or gold) for each seal purchase.
Common Seal Model & Price:
- Common Seal, artwork size 35 mm (diameter) - $49 (3 working days): Product order before 1pm on Day 1 (order date) and collect on Day 4 after 4pm
- Common Seal, artwork size 35 mm (diameter)- $89 (1 day express) - Product has to be order before 12pm and can be collected the next day at after 4pm
- Common Seal, artwork size 35 mm (diameter)-$129 (4 hour express) Product order under 4 Hours Express will be after artwork approval. Last order by 12pm for the same day collection at our office.
- Each common seal purchase comes with 5 free stickers (in red or gold)
Table Seal Model & Price:
- Table Seal, artwork size 36 mm (diameter) - $60 (3 working days)
- Table Seal, artwork size 36 mm (diameter) - $119 (1 day express)
- Table Seal, artwork size 36 mm (diameter) - $159 (4 hour express)
- Table Seal, artwork size 48 mm (diameter)- $80 (3 working days)
- Table Seal, artwork size 48 mm (diameter) - $139 (1 day express)
- Table Seal, artwork size 48 mm (diameter) - $179 (4 hour express)
- Get 5 seal stickers with each table seal purchase
- Pocket Size (35mm)
- Weight of about 370g
- Clients can choose to receive common seals either already assembled or disassembled for convenience
- Common seal stickers can be purchased in either red, silver or gold
- 5 free common seal stickers given for each seal purchase
Begin making a common seal by whatsapp messaging ( +65 81820938),emailing email@example.com or placing in a direct order through our website.
Artwork Preparation details:
- Free common seal design for text only common seal.
- Clients can opt to submit their own common seal designs online or email or Whatsapp Kiasu Print graphic designers (The Kiasus) for assistance.
- The lead time for corporate seal production will only be applicable after the artwork has received confirmation from the client
When to Use Company Seal: Everything Need to Know
Are you wondering what a company seal (also known as the corporate seal or common seal) is and whether it is important to have in Singapore? Of course, the common seal is extremely important for a business because it is the powerful signing tool of projects and vital documents, which to be agreed on by all directors, managers, and board members.
Everyone aware of that company being an artificial person and does not have any physical presence. This is why it acts via its board of directors for performing business activities and entering into several agreements. However, what kind of authenticity the board of directors has for working on behalf of the company. Here is actually the role of common seal come into the picture.
Keep reading this article to know everything about the common seal, which clarifies all your doubts regarding the common seal and its necessity in running a business in Singapore.
What is a common seal?
The common seal is often referred to as the company seal or corporate seal, which is an official seal accessed by the company. Years back, common seals predominately utilized by organizations in the common law jurisdictions but now most of the companies have used common seals.
Traditionally, this seal holds some legal importance because the affixing of seal represented that the document/ agreement was the act and deed of the organization. Usually, the board of director accessed this seal to sign the agreement and documents on behalf of the company. In simple terms, it is the official signature of a company.
In general, this seal is signet or die on which the company name is engraved. The organization can have a corporate seal on its registration or incorporation with the registrar of companies. This official signature required to sign any kind of official documents to prevent individuals from making any decision without other board member agreeing to them.
As the corporate seal is a way of confirming the document certified and verified by all the individuals who are in the decision-making position, it will include the following things
- Registration of company name
- Company logo
- Year of incorporation
- State in which the company legally filed
Uses of the company seal
Although corporate seal majorly used for executing and signing documents, its use actually restricted to the minimum. Obviously, it used only for serious documents and transactions. For example, it is unnecessary to access corporate seal for all business activities including simple vendor agreements, approving meetings, and so on. It should be accessed for the most vital business transactions. Here are the few circumstances in which it is highly appropriate to utilize.
- International documents
- High-level deeds and contracts
- Issuing stock certificates
- Real estate transfers and land contracts
- Sales agreements
- Membership certificates
- Loan mortgages and documents
- Company resolutions
Alongside, the company seal cannot be utilized without any prior approval. The use of a corporate seal must be documented in the board meetings minutes or articles of association. In several cases, the corporate seal must accompany by the CEOs or President signature.
Understand the power of company seal
Though the corporate seal is not utilized as often in the present business world, it still remains the symbol of authenticity and the official mark of the company. Still, some legal documents require the common seal. It also plays a vital role in board resolutions. In fact, the agreement without common seal considered invalid. Regardless of business size, every company is expected to have a corporate seal. If you do not have a corporate seal, then you can make use of the tips mentioned in the below section.
How to get the common seal
Though company seal made of wax once, currently it is accessible in several materials and mainly of metal. By following the below steps, you can obtain the corporate seal and ensure all your business activities legal.
- Firstly, you have to register your company within the state because the state is included in the common seal
- The seal is mandatory for registering the corporation so that you are not offered with common seal by the secretary of the state. Rather than, you can get it at the office supply retailer
- Of course, you can able to design your common seal as per your needs but it should include corporation name, incorporated date, and state in which corporation registered.
- Then, you have to select the embosser whether it may be handheld and desktop device
- Finally, pay for your corporate seal and get it
Common seals companies act 2017 at a glance
Before 31st March 2017, a Singapore based company going to execute the document required to affix the corporate seal of the company according to the provision of the Articles of Association. Under section 41(3)(a) of the CA (companies act) used before 31st March 2017, the contract made between private persons needed to be in writing under the seal on behalf of the company in writing under the corporate seal of the company.
The formal execution of the deed needed the corporate seal affixation. As per the typical constitution of the singapore corporation incorporated before 31st March 2017, the corporate seal of the corporation would need to affix on the documents/contracts before two directors, authorized signatory, director, or company secretary.
Things come into effect from 31 March 2017
The companies act come into effect from 31st March 2017 has abolished the requirement for the Singapore Company to have a corporate seal at their option. Additionally, the formal execution of the legal document by the Singapore Company does not need the common seal affixation. You will find the relevant provisions in Sections 41B and 41C of the Companies Act of 2017, which follows from Sections 19(5) and 41A, which eliminate the need of the Singapore corporation to have a corporate seal
Additionally, this new provision is not at all subject to the constitution of the Singapore Company. The existing constitution of the company in Singapore is not needed to be amended to eliminate the need of the company to have a corporate seal or to affix the seal in a specific manner. Under Section 41B, the Singapore Company may execute the legal document without the corporate seal by signature.
- On behalf of the corporation by at least two directors of the company (or)
- On behalf of the corporation by the company secretary or directory (or)
- On behalf of the corporation by the director of the organization in the presence of the witness who confirms the signature
When the deed required to be signed by the individual on behalf of more than one organization, that person needs to sign the deed separately in every capacity otherwise it is not considered signed.
What changes in the new Amendment act 2017?
It will definitely take some time for the Singapore companies to adapt to the new changes and then accept that a legal document need not require the common seal affixation. At present, the resolution format prescribed to the local bank to their customers is as follows.
“The common seal of the corporation is affixed according to the company’s constitution to any deed, which may be needed to be executed by the company under corporate seal”
Since the company may opt whether to have or not have the corporate seal, the company director may decide whether or not a deed may execute with or without a company seal. At the same time, the signing should be on behalf of the company directory to solve the common seal of the corporation has to be affixed. The company has not any alternative to executing its legal document in any other ways.
- Instruments prescribed by the Singapore authorities
According to the new amendment act 2017, the instruments prescribed by the Singapore government authorities including approved forms for the property registration along with the Singapore land authority have yet to be altered in order to keep pace with the modifications.
- Share certificate
It is quite hard to note that Section 123(2) has not yet been altered to let the share certificate to be signed according to the inclusion of Section 41B. Actually, Section 123(2) states, “each share certificate will be under the corporate seal of the corporation”. On the other hand, section 123(4) states that “when default made in complying with this section, the corporation and every officer of the corporation who is in default will be guilty of the offense”.
However, the requirement to utilize the corporate seals during the share certificates execution has been giving out with the inclusion of 41C. As per this provision, no longer share certificates required to be affixed with the corporation’s corporate seal so that they can sign on behalf of the corporation in accordance with Section 41B.
With the latest modifications to the companies act, other types of seals option such as share seals, official seals, and duplicate common seals have not removed. As a result, the Singapore organization may still opt to issue the share certificate along with the corporate seal or share seal.
Company seals vs. rubber stamps
Many business people often get confused with company seal and rubber stamp. Actually, they think both are similar and used for similar purpose. Look the following tabular column to know about company seal and rubber stamp along with when to use and for what purpose.
Company Seal: The company seal is also called as corporate/common seal, which mostly accessed in the common jurisdictions such as Singapore. Companies usually use this official seal to endorse documents such as contracts, deed, and share certificates.
How it looks: On average, the common seal contains the name of the company. Additionally, it includes registration number and state in which it is filed.
When to use: Company seals often accessed for contracts and documents, which needed by law to be in writing under the seal. For example, singing the documents related to banking transactions. However, no longer need to utilize the corporate seal in order to execute such documents if you follow section 41B of companies act that comes into effect from 31 March 2017
Rubber Stamp: The rubber stamp is a small device, which has the name of the company, date, and logo on it. You have to press it on to the ink pad. After that, press on to the documents to show the document has been dealt with officially
How it looks: Generally, rubber stamp includes the name of the company, registration number, date of establishment, and mailing address.
When to use: Under section 144(1A) of the companies act, the company registration number will appear in the legible form on all the statements of account, business letters, official notice, and others to be offered or signed by or on behalf of the corporation. It is not necessary to use rubber stamp when company name and registration number already available in the documents.
Tips to utilize the company seal properly
Are you going to use a company seal for the first time? Well, you should consider the below mentioned things carefully.
- It is vital to read the state law regarding the corporate seal requirements
- Utilize the corporate seal for the official company purpose only
- Individual state laws tell when and how to use the corporate seal, follow them carefully
- This seal is considered as the corporation mark so that ensure you use it valuable situations
- Access the seal like the company’s signature to clean the organization is acting
- The photocopy, email, and fax of the seal can still act in the position of the original seal
- It is essential to keep the seal in good condition
- The seal tells the person who read the document, which the company supports the agreement
Even though stats still recognize the company seals legal impact, it may serve as the symbol of authenticity or even a gesture of the company in the future. Whenever you are unsure about whether your documents/agreements need the corporate seal, it is better to seek professional advice.