signature authority

English

Noun

signature authority (uncountable)

1. (business) The authority of an employee acting unilaterally to commit an employer to a contract.
   • 1996, Andrew Turnauer, Navigating the Mortgage Maze‎^[1], 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.

2. (business) The maximum value of such contract.

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

3. (law) Control over a financial account with ones signature.
   • 2019, “Understand how to report foreign bank and financial accounts”, in Internal Revenue Service‎^[2]:

     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.