Why Singapore Company’s Need a Company Chop Part One
What Is a Company Chop?
It is an object used to authenticate official papers for the corporation. It is also known as a company chop or a rubber stamp. It may be made of wood, rubber, plastic, or a mixture of these materials.
The stamp usually contains critical company information such as the company's identification number or specific organization number (UEN), its official corporate name, as well as contact information, location, date, logo, and so on.
These specifics are specially etched on one side of the stamp and then transferred to the paper by stamping with ink.
All of a company's information can be included on the stamp.
A company chop, also known as a rubber stamp, is often used by Singapore-based businesses to publicly accept such forms of documents.
A business chop or stamp will typically contain the company's name, registration number, and mailing address, as well as any other important information that could be needed based on the company's choice.
A business chop or stamp is distinct from a company seal and should not be mistaken. A company seal (also known as a common seal) is an official seal that is often used to approve documents such as equity certificates and contracts that are legally mandated to be in writing. Company seals are not the same as company chops.
A company stamp is voluntary, but there may be occasions when it is needed, such as for government documentation, utilities or telecommunications bills, and even delivery companies that will need an official company stamp for authorized purposes.
Other scenarios in which a business chop can be expected include:
- Applications for Grants
- Request for a License
- Purchase orders are signed.
- Rental contracts
- Contracts for business
- Invoices from the government
- Account’s statement
- Exchange bills
- Promissory notes are notes that promise something in exchange for money.