A WOFE has been established in Shanghai for more than 10 years. At the beginning of this year, facing with the bidding opportunity of an urgent large order of medical device products, the medical product of the headquarters of A WOFE has a very high chance of winning the bid.
However, due to the business scope of A WOFE at that time did not include the required business scope of medical equipment trading, it was not qualified for bidding.
Due to the urgency of time, A WOFE arranged for five executives scattered in several countries to sign the relevant resolution to increase the scope of medical devices, and submitted it to the local market supervision bureau at the first time.
However, after an internal review by the Market Supervision Bureau, it was found that the signature of one of the executives was significantly different from the signature notes on file in the Market Supervision Bureau, so it was needed for a new signature.
The reason is that the related executive had signed the resolution in accordance with the current signature custom without checking the signature style filed 10 years ago. Finally, A WOFE did not complete the change of business scope before the deadline of bidding, and missed this big order.
Dongjing's reminding:
1，As the Industry and Commerce Bureau has strengthened the verification and review of the signature style of corporate executives, Dongjin suggested that the foreign executives (especially overseas executives) have to check the signature style archived in Industry and Commerce Bureau at that time before signing, and sign in accordance with the signature style archived.
- What if there is no executive signature style archive within the organization? Enterprises can themselves or entrust Dongjin to the local Industry and Commerce Bureau to copy the file and check the signature style.
If the enterprise has any further questions, please consult Dongjin at any time.
Mike Chang
Partner
mikechang@shanghaiinvest.com