GOOD TO KNOW! For a contract to be legally sustainable, it must be a company signatory who signs the agreement. There may be almost infinite number of combinations of signatory for a company.
It should always be clear whether it is a person who is independent or several people who sign a company.
Here are some rules;
The company is signed by the board.
The entire Board (all Board members) always has the right to represent the company as company signatory together. Then it says that "the company is signed by the board". This means that all members of the board together must sign.
The Executive Director's right to sign.
If the company has an executive director, that person will be entitled to sign in the company's name regarding the information that the person is required to provide in the current management.
An alternate may replace an ordinary member.
An alternate member may replace a regular member of the board and sign in his place if, for example, the member resigns, expires, dies, sickness, loses his right to sign or other absence.
Special company signatories.
The board may also designate one or more individuals individually or jointly to sign the company. That may be people inside or outside the board. These persons are called special company signatories.
Read more about our Signatory API here.