Signatory status

Organization representative signatory status

The signatory status of a company representative tells the KYC agent about the valid scenarios for undergoing KYC procedure. If there are multiple representative personnel for a company, it is not trivial that any of them may sign the KYC contract. The signatory status aids you in understanding the required combination of representative personnel.

When placing a call to the Identification-Information-v2 endpoint, the resulting data contains three properties that determines the proper combination: RepresentationMode, SignatoryStatus and AssignedSignatory

• If the representation mode of the person is Alone, they represent the company in solo. The presence of that person alone is enough for a valid signing of a contract.
• If the representation mode of the person is WithSomeone, another person is needed for the signing.
  • If their signatory status is WithAnyone, any other person can take part in the signing.
  • If their signatory status is WithSpecified, the person specified in the AssignedSignatory property also must be present at the signing. No other personnel are valid in this scenario.
  • If their signatory status is IsMandatory, they must be present at any signing for the company. In this case, the second person can be anyone with the WithSomeone representation mode.

This information is related to the following process:

• Remote Identification