In the world of business, a signature is more than just a personal mark. It represents the legal authority to bind a company to agreements, contracts, and other legal documents. Only authorized signatories have this power. By ensuring that only authorized individuals at JMP have the power to bind the company to agreements, we can mitigate risks, avoid disputes, and maintain our reputation.
Why authorized signatories matter
- Legal liability. When an unauthorized individual signs a document on behalf of a company, the company may not be legally bound to the agreement. This can lead to significant financial and legal consequences.
- Contract enforcement. If a contract is signed by an unauthorized person, the other party may be unable to enforce the agreement. This can result in losses and disputes.
- Fraud and misrepresentation. Unauthorized individuals may use their position to commit fraud or misrepresent the company's intentions. This can damage the company's reputation and lead to legal action.
The consequences of unauthorized signatures
JMP employees who are not authorized signatories should never sign their name to any documents or contracts on behalf of the company. Doing so can have serious legal and financial repercussions. In some cases, unauthorized signatories may be personally liable for any damages or losses incurred by the company. If you would like to start the vendor contract review process, please submit a request here: JMP Vendor Agreement Request (office.com) For any questions regarding signing vendor or customer contracts, please contact jmplegal@jmp.com
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Frequently Asked Questions (FAQs)
Who is authorized to sign at JMP?
JMP authorized signatories are:
- John Sall.
- Jon Weisz.
- Anissa Knox.
- Jason Romanos.
- Carol Gretz.
- Paul Mastropolo.
What about electronic signatures, e.g., on software "click licenses"?
The Signature Authority policy applies to any electronic or printed document that creates obligations for JMP's rights. This includes click licenses for software as well as printed licenses for software.
If I have spending authority, don't I also have signature authority?
No. Spending Authority and Signature Authority are separate authorizations. Spending Authority is established within JMP's accounting systems (e.g. Procure to Pay) and determines the level of expenditure an individual can approve for payment by JMP. Signature Authority, on the other hand, is an authorization to sign documents that bind JMP to contractual terms. Even if an individual has sufficient Spending Authority to approve an expenditure, he or she may not sign the contract that obligates JMP to spend those funds unless he or she also has the appropriate Signature Authority.
What about documents I have signed previously without signature authority? Should someone with signature authority now “re-sign” them?
That depends on the nature of the signed document and other relevant factors. Please contact the JMP Legal Division (see who your Legal point of contact is) and we will help determine whether arranging for re-execution of the document is advisable.
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