Quick Summary
Authorized Signatory is a person duly empowered by the company to sign contracts, cheques, and official documents.
An Authorized Signatory is a person who has been given the authority to sign documents, contracts, and execute transactions on behalf of the company. This authority is typically granted through a Board Resolution.
Common Authorized Signatories
- Managing Director
- Whole-time Director
- Company Secretary
- CFO or authorized financial officer
- Manager or designated officers
Authority Limits
- Defined by Board Resolution
- May have monetary limits
- Specific to certain types of transactions
- Can be joint authorization (two signatures)
Banking Authorization
Banks require Board Resolution specifying who can operate company accounts, their signing authority, and transaction limits.
Key Points
- Person authorized to act on company behalf
- Authority granted by Board Resolution
- Required for banking operations
- Can be limited to specific purposes
- Authority can be revoked by Board