Meaning of signature authority | Babel Free

Definitions

1. The authority of an employee acting unilaterally to commit an employer to a contract.
   uncountable
2. The maximum value of such contract.
   uncountable
3. Control over a financial account with ones signature.
   uncountable

Examples

“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.”

“As a first level manager my signature authority is $500.”

“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.”

CEFR level