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signature authority. In DICTIOUS you will not only get to know all the dictionary meanings for the word
signature authority, but we will also tell you about its etymology, its characteristics and you will know how to say
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English
Noun
signature authority (uncountable)
- (business) The authority of an employee acting unilaterally to commit an employer to a contract.
1996, Andrew Turnauer, Navigating the Mortgage Maze, page 124:Some small banks still use this model, but larger institutions tend to entrust a single individual with signature authority, at least to a certain loan dollar amount.
- (business) The maximum value of such contract.
As a first level manager my signature authority is $500.
- (law) Control over a financial account with ones signature.
2019, “Understand how to report foreign bank and financial accounts”, in Internal Revenue Service:Officers or employees who file an FBAR to report signature authority over an employer’s foreign financial account don’t need to personally keep records on their employer’s accounts.