To be fair, I am presenting MOM’s response received today on Company Stamp for your consideration.
“Our requirement to have company stamp endorsing our documents reduces the likelihood of unauthorised transactions or applications by a third party. Such cases do happen and companies become invariably implicated or inconvenienced due to fraudulent transactions.
While there is no legal requirement for companies to have a company stamp, such a requirement will safeguard the interests of our customers such as yourself. We will also accept alternative means of authorisation such as an official company letter in lieu of a company stamp endorsement.” Unquote.
Questions for your consideration.
- What is a Company Stamp?
- Can anyone make a Company Stamp?
- How much to make a Company Stamp?
- How does a Company Stamp protect your company if it is not legally binding to use a Company Stamp in official documents and contracts?
- Is it different from Company Seal?
- What is a Company Letterhead?
- What are the statutory information that must be found on a letterhead?
- How to make Company Letterheads? Must I ask the printer to print or can I print them using my printer?
- When is a letterhead a letterhead and when is it not a letterhead?
If the primary objective is to prevent false or fraudulent applications and transactions, you verify the person that is making the application / transaction by checking the identity card/passport.
I don’t think a Company Stamp or Company Letterhead can prevent a fraudulent application/transaction.