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davcomnz

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#304185 11-Apr-2023 21:39
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Please move this post to the correct forum if this is not the right one.

 

I've been asked to be a signatory for a non-profit organisation.

 

Seeking advice on what are best practises for how signatories authorise requests.

 

Some documents may need to be signed at a committee meeting, but many times a request for a financial co-signing may be requested between meetings.

 

Since we haven't had cheques in NZ for a couple of years now (July 2021) that might need co-signing (2 out of 3 signatories), how DO signatories authorise a request from 1 signatory (let's say Treasurer) electronically these days ?

 

I don't want to drag our wee non-profit into the electronic signature ball-game, a few of them don't even have a mobile phone !

 

If there's anyone that has encountered this situation, that as a club/non-profit signatory they have been requested to authorise a financial request, what process needed to be put in place to satisfy accountability. Swapping emails ?

 

I'd like to take some solid advice into the next meeting, before I accept what will be presented, so everyones aware of what NZ's best practises in this situation are.

 

If anyone has links to govt sites, wherever, that advise either legal or electronic requirements for this, gratefully received.

 

(For eg. Sport NZ's _current_ (11/4/2023) best advice is that "2 signatories are required to sign cheques"... erm ... we haven't had cheques for 2 years guys so ... yeah that doesn't float.)

 

I haven't yet found any decent information on how signatories interact when authorising financial requests.

 

How do you do it ?


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OldGeek
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  #3061703 12-Apr-2023 08:06
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Internet Banking does it.  For the organisation, there are separate logons for each signatory.  If any payment is initiated then the other signatories are notified and can log on to authorise.  Once the required minimum of authorisations has been met the payment is made.





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