Authorized Signatory: Everything You Need to Know
An authorized signatory is defined as a director of the issuer or another person who has been authorized to sign documents and has notified the trustee that they've been given the power to do so. 3 min read
An authorized signatory is defined as a director of the issuer or another person who has been authorized to sign documents and has notified the trustee that they've been given the power to do so. A representative or officer is normally given the power to sign the organization to an agreement that's binding. This is also known as a signing officer. The legal power is given by someone in authority to positions that are organizational, such as manager, to make them agents of that organization for specific or general purposes. This can include revenue authority, payment authority, or spending authority.
What Is an Authorized Signatory?
The authorized signatory is in charge of maintaining employee records and requesting airport identification badges on the behalf of the agency they work for. A company can pick up to three authorized signatories. They are authorized to sign and deliver transaction documents on behalf of the company. They can also make amendments if they find it would be best. Every authorized signatory has been given permission to perform several duties, including the following:
- Come up with resolutions
- Sign and deliver documents on the company's behalf
- Give any notices on behalf of the company
- Perform undertakings or acknowledgments on the company's behalf
Another name for authorized signatories is signing officers. This indicates they've been given the power and authorization by their employer to be in charge of signing many or all important documents. They do not need to get permission before signing off on a legally binding document or contract, as the employer has already entrusted them with that. They're expected to make smart decisions based on the company's behalf that will serve to benefit the company and its employees in the future.
Authorized signatories are authorized with respect to any transaction document, or other types of documents that might be appropriate or required to exercise the rights of the company or performance of the company when it comes to their obligations. They can execute these documents under the common seal of the company and deliver them under that as well. They can do this at their discretion and how they see fit. The exercise of their discretion can be evidenced by their execution.
Roles & Responsibilities in the San Francisco International Airport
For example, at the San Francisco International Airport, an authorized signatory has many duties. They're in charge of confirming all employees' I-9 identification and documentation requirements. They'll help all new applicants pre-enroll via the AIDMS Web Portal. When security access needs to be updated due to an employment change, they'll be in charge of that. This includes when an employee gets terminated or resigns. If airport badges get stolen or lost, they're in charge of reporting that to the security access office right away. They'll also give any terminated badge accompanied by a termination letter to the security access office.
All employee badging rosters will be maintained by authorized signatories and they'll be the main contacts for any airport badge audits. They will make sure that the updated contact information is listed, including the name, name of the company, mailing address of the company, email address, and phone number of the company. They'll audit and retrieve all airport security keys. If there are any status changes of other authorized signatories, they'll let the security access office know.
Employees will be registered for appointments to get their fingerprints taken by the authorized signatory, and they'll also sign employees up for computer-based training classes. Employees will also be made aware that there is a zero-tolerance policy when it comes to cheating during their computer-based training classes. Any employee badge renewals will be authorized by them through the AIDMS Web Portal.
If you need help with authorized signatory, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.