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Words, grammatical forms and meanings linked to the ontology.

signature authority en · NOUN

Meanings

  1. (uncountable) The authority of an employee acting unilaterally to commit an employer to a contract.
    • 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. 1996, Andrew Turnauer, Navigating the Mortgage Maze, page 124:
  2. (uncountable) The maximum value of such contract.
    • As a first level manager my signature authority is $500.
  3. (uncountable) Control over a financial account with ones signature.
    • 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. 2019, “Understand how to report foreign bank and financial accounts”, in Internal Revenue Service: