1. Managing affairs of the Foundation as per the objectives specified in Article 2 and approvals of the Board of Trustees.
2. Appointing and dismissing the CEO and determining his salary and allowances
3. Providing regulations and bylaws of the foundation and suggesting them to the Board of Trustees for approval.
4. Determining the criteria for employment, salaries, bonuses, wages, promotion, and other terms and conditions to encourage the use of human resources.
5. Collecting receivables and paying debts of the Foundation as per available funds.
6. Opening an account, and using it under the name of the foundation, held with banks, financial and credit institutions or freezing accounts.
7. Attending tenders and concluding contracts
8. Concluding any lease contract with the right for its termination, with or without the right to claim damages.
9. Settling disputes through negotiations, where appropriate, delegating all or a part of its powers to any other person, whether natural or legal with the right of substitution. In general, the Board of Directors can perform any necessary bureaucracy dealing with the transfer of immovable properties after approval of the Board of Trustees of the Foundation.
10. Performing follow-ups for judicial, financial, taxation and registration procedures through all legal procedures before courts, appointing an arbitrator, electing lawyers and dismissing them.
11. Adjusting summary of financial statements, income and expenditure statements of the Foundation every six months and submitting them to the inspector of the Foundation.
12. Adjusting statement of assets and liabilities, the balance sheet and performance account of the Foundation at the end of the fiscal year.
13. Adjusting the annual budget for approval in the General Assembly of the Board of Trustees.
14. Supervising the implementation of decisions by the CEO.
15. Delegating the required authorities to any natural or legal person and the Managing Director to perform administrative, financial, cultural and service affairs.
16. Maintaining and protecting movable and immovable properties of the Foundation.
17. Implementing the approvals of the board of trustees.
18. Delivering completed buildings and facilities to Ferdowsi University of Mashhad or fulfilling any of the requirements of Article 2 of the Articles of Association of the Foundation after receiving written approval (commitment) of the Chancellor of the University for full and permanent observation of legal terms of donors, determined when concluding contract.
19. Except in accordance with the provisions of this Articles of Association for the decisions that are to be made exclusively by the Board of Trustees, the Board of Directors bears all necessary authorities for managing bureaucracies of the foundation subject to its predetermined objectives.
Last Updated on Saturday, 11 June 2016