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German to English translations [PRO] Bus/Financial - Law: Contract(s)
German term or phrase:Verpflichtender Beirat
"Es wird ein verpflichtender Beirat mit höchstens 6 Mitgliedern eingerichtet." From a contract governing the creation of a new company. The company is being established jointly by various companies within the same industry to serve as a not-for-profit clearinghouse for shared services. The Beirat (which I am translating as "advisory board") will be made up of representatives of each of the founding companies, who will be able to represent their respective companies in decision-making processes. I am looking for a standard English equivalent of "verpflichtender Beirat" if such a term exists. Any advice appreciated, thanks!