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What is an authorized signatory?

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Quick Answer

An authorized signatory is an individual who has legal power to sign an official document on behalf of someone else, according to The Law Dictionary. Authorized signatories also sometimes act on behalf of businesses to commit to binding agreements, notes BusinessDictionary.com.

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What is an authorized signatory?
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Individuals who act as authorized signatories typically are named to the position by an authorized individual or group, BusinessDictionary.com notes. An appointment of an individual as an authorized signatory may be on a permanent basis or for specific purposes of temporary duration. The Law Dictionary notes that acting as an authorized signatory can include acting as power of attorney, signing documents in place of someone else and witnessing legal documents.

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Related Questions

  • Q:

    What is meant by power of attorney?

    A:

    A power of attorney is an individual who has the power to act on another's behalf. A person may give one or more individuals temporary or permanent authority, and the power may be general or limited to a particular activity, according to the American Bar Association.

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  • Q:

    What does power of attorney mean?

    A:

    A power of attorney is a legal document that gives one person, the attorney-in-fact, certain legal rights in the name of someone else, the principal, according to the Connecticut Network for Legal Aid. The attorney-in-fact, who has been given this power by the principal, may legally act on his behalf.

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  • Q:

    What is a notice of revocation of power of attorney?

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    A notice of revocation of power of attorney is a document that allows someone to revoke a power of attorney formerly granted, Rocket Lawyer says. There are many reasons to revoke a power of attorney, including drafting a new one or if there is no longer a need for a power of attorney.

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  • Q:

    How do you create a power of attorney form?

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    An individual creates a power of attorney form by deciding who acts on his behalf in the event he is unable to do so; he lists the person's contact information and signs the document to make it legal, according to Rocket Lawyer. A power of attorney form can be created online.

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