A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organisations such as cities (with municipal charters) or universities. Charters should be distinguished from warrants and letters of appointment, as they have perpetual effect. Typically, a Royal Charter is produced as a high-quality work of calligraphy on vellum. The British monarchy has issued over 980 royal charters. Of these about 750 remain in existence. The earliest was to the town of Tain in 1066, making it the oldest Royal Burgh in Scotland, followed by the University of Cambridge in 1231. Charters continue to be issued by the British Crown, a recent example being that awarded to the Chartered Institute for the Management of Sport and Physical Activity, on 7 April 2011.