GRM Nowak Wójciksp. j.

Manner of representation

Each partner independently represents the company. Transactions exceeding the scope of ordinary management require the prior consent of both partners. Consent may be given in any form preserving its content, including by email. In particular, the following are deemed to be such transactions: 1. incurring an obligation (e.g. a credit, loan, lease or investment agreement) exceeding PLN 5,000.00; 2. disposing of an asset of the company worth more than PLN 5,000.00; 3. incurring any bank credits, loans or other financial obligations–regardless of the amount–requires the signatures of both partners; 4. entering into a lease, tenancy, guarantee or other long-term agreement; 5. entering into an agreement for accounting, legal, advisory or audit services. Minor transactions (e.g. current purchases and signing agreements with a value not exceeding PLN 5,000.00) may be performed independently by each partner.