A company seal may be described as the official signature of a company. It is the mark of authenticity in all transactions. It shows that the act done is certified by or agreed upon by the board of directors of the company.
The body of laws regulating companies in Nigeria, the Companies and Allied matters Act (CAMA) defines a company as a body corporate with perpetual succession and a common seal. Section 74 of CAMA states clearly that “a company shall have a common seal, the use of which shall be regulated by the articles”
Although the law and practice is now more flexible as to the use or lack of use of the common seal it is still used in nearly all company transactions.
Corporate seals are used in documents that need to be executed such as deeds, for example deed of land purchase, deed of lease, deed of power of attorney, deed of mortgage and the like. They are also used on share certificates, bank accounts, employment contracts, simple contracts of sale and purchase, loans etc.
Many companies use their seals for general company correspondence.
A seal is important in that it shows the legitimacy of the transaction. Parties dealing with companies are often at ease that the company would not back out of a liability incurred where its seal has been placed. It also shows that the act was not done by and on behalf of a single individual but it has the backing of the entire company.
A seal also bears the logo of the company. It often forms part of the brand. Besides in our appearance driven world, people tend to take instruments bearing a company seal more seriously as they think it must be a genuine corporation.
A stamp on the other hand is defined as an indentation or imprint made by stamping. Its synonyms are emboss, indent, give an official marking to etc.
Corporate seals in the past were imprinted on wax upon a document. As time passed rubber stamps were preferred and today, most corporate seals are embossed upon a document. Thus in modern times it appears both seals and stamps are basically the same in terms of appearance. The only difference in my opinion is that corporate entities tend to use a more sophisticated indentation or stamp, while smaller businesses tend to use wooden markers with the business logo and other relevant information etched into it, dipped in ink and embossed on the document.
They basically perform the same function; giving a sense of authenticity to the transaction and showing the mark of identity of the corporation or business.
The fact that company seals and stamps reflect the identity, brand and authenticity of transactions and image of the company or business it is imperative that they fulfill the following criteria;
They should contain the name, motto, logo, registration number and year of incorporation or registration of the company or business and other relevant information as requested by the company.
They must be peculiar to the company and difficult to forge
It doesn’t hurt to have a nice looking seal or stamp. It is important to have it well done, well designed and of the best quality.
There are several printing companies who make seals and stamps. It is important to go to one reputed for the quality of its work. You do not want to have the company name misspelled, logos skewed, ink smeared etc. thus the need for a dedicated, thorough and meticulous printing company. There are several printing services in Nigeria that offer these services, both walk in and online.
Do you need to a seal or stamp for your company or business? Contact www.printanything.ng
GIVING YOUR BUSINESS A PROFESSIONAL OUTLOOK
A company seal may be described as the official signature of a company. It is the mark of authenticity in all transactions. It shows that the act done is certified by or agreed upon by the board of directors of the company.
The body of laws regulating companies in Nigeria, the Companies and Allied matters Act (CAMA) defines a company as a body corporate with perpetual succession and a common seal. Section 74 of CAMA states clearly that “a company shall have a common seal, the use of which shall be regulated by the articles”
Although the law and practice is now more flexible as to the use or lack of use of the common seal it is still used in nearly all company transactions.
Corporate seals are used in documents that need to be executed such as deeds, for example deed of land purchase, deed of lease, deed of power of attorney, deed of mortgage and the like. They are also used on share certificates, bank accounts, employment contracts, simple contracts of sale and purchase, loans etc.
Many companies use their seals for general company correspondence.
A seal is important in that it shows the legitimacy of the transaction. Parties dealing with companies are often at ease that the company would not back out of a liability incurred where its seal has been placed. It also shows that the act was not done by and on behalf of a single individual but it has the backing of the entire company.
A seal also bears the logo of the company. It often forms part of the brand. Besides in our appearance driven world, people tend to take instruments bearing a company seal more seriously as they think it must be a genuine corporation.
A stamp on the other hand is defined as an indentation or imprint made by stamping. Its synonyms are emboss, indent, give an official marking to etc.
Corporate seals in the past were imprinted on wax upon a document. As time passed rubber stamps were preferred and today, most corporate seals are embossed upon a document. Thus in modern times it appears both seals and stamps are basically the same in terms of appearance. The only difference in my opinion is that corporate entities tend to use a more sophisticated indentation or stamp, while smaller businesses tend to use wooden markers with the business logo and other relevant information etched into it, dipped in ink and embossed on the document.
They basically perform the same function; giving a sense of authenticity to the transaction and showing the mark of identity of the corporation or business.
The fact that company seals and stamps reflect the identity, brand and authenticity of transactions and image of the company or business it is imperative that they fulfill the following criteria;
There are several printing companies who make seals and stamps. It is important to go to one reputed for the quality of its work. You do not want to have the company name misspelled, logos skewed, ink smeared etc. thus the need for a dedicated, thorough and meticulous printing company. There are several printing services in Nigeria that offer these services, both walk in and online.
Do you need to a seal or stamp for your company or business? Contact www.printanything.ng
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