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Authorised Signatures

In FCI we do not use and exchange authorised signatures. There is no burden of verification on the receiver who is entitled to rely on any message or signed commitment received from a correspondent. This is irrespective from the person who sent it.

The only obligation of the receiver is to verify which FCI member, not person, sent the message.

"Sent" is binding

It follows that anything sent by your company fully binds you vis-à-vis your correspondent. It does not matter if a credit cover for 10 million EUR is sent by your managing director or by the cleaning person at night. Once sent, your company is fully liable and bound.

Protect your environment

It is therefore essential that you protect your work environment and ensure that only authorised persons can send messages to other members of FCI. This is a matter of internal controls and you should consider issues like:

  • Access to the physical mail department,

  • Access to fax transmissions, either from fax machines or from computers,

  • Access to e-mail sent from your company,
     

A proper procedure for authorising the sending of messages that bind legally or financially your company.

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