Signatories
- Have more than two signatories in the office to make sure you have two people to sign at any one time.
- In the event that staff are evacuated, you may want to close accounts from the organisation's country office or head office. Ensure that there are the signatories to do so.
- Decide whether each signatory is able to sign on their own or jointly with one or more others.
- Consider limits on the amount of any one payment, especially when there is only one signatory. You may need to strike a balance between delays and the need for tight controls. Possibly one signatory for payments up to a limit which will cover all day-to-day expenses but two signatories for any larger payments.
Remember to cancel signatory rights immediately if a signatory stops working for your organisation. Remember that signatories go on holiday. Case study