Authorized Signatory Policy
This policy details who is authorized to sign on behalf of the company for various contracts.
Policy
It is the policy of ACS Technologies Group, Inc. (“ACST”) to authorize signatories to execute contracts, agreements, Non-Disclosure Agreements ("NDAs"), other legal documents, including SaaS subscriptions (collectively “Contracts”) on behalf of ACST with outside persons and entities. It is required that all staff follow this policy to minimize financial, legal, and related risks and to ensure that appropriate fiscal and management controls are in place.
The purpose of this policy is to:
Identify those individuals who are authorized to sign on behalf of ACST;
Set expectations of those who are authorized to sign Contracts on behalf of ACST;
Highlight certain provisions of existing company policy that must be considered prior to signing any Contract.
Authorized Signatories of ACST
The following signatories are authorized to sign any Contract on behalf of ACST:
President & Chief Executive Officer ("CEO")
Chief Financial Officer ("CFO")
Chief Technical Officer ("CTO")
Chief Ventures Officer ("CVO")
Chief Operations and Customer Officer ("COO")
Due diligence
Prior to entering into any Contract, the authorized signatory should consult with other ACST staff that would be involved with vetting, approval, and implementation (e.g., Purchasing, Information Technology, Risk Management, Chief Ventures Officer).
Roles
The table below designates signing authority by role and document type. The lowest signing authority is displayed. If a document falls outside the type definitions, an Executive Leadership Team ("ELT") member, or higher level signature is required.
| Role of Authorized Signatory | Document type |
| President & CEO | Acquisitions of Companies |
| Chairman of the Board, President Emeritus, CFO | Checks |
| CFO | Financial Arrangements - Vanco, Wells Fargo |
| CFO | Tax Audits |
| CVO / COO | Revenue Share Agreements |
| CVO / COO | Leases - Buildings, Car Rental |
| CVO / COO | Corporate Insurance Agreements |
| CVO / COO | Data Sharing Agreements / Data Confidentiality Agreements |
| CVO / COO | Non-disclosure Agreements (NDAs) |
| CVO / COO | Capital Asset Purchases (e.g. vehicles, and other items that depreciate) |
| COO | Non Compete Agreements |
| COO | Workman's Compensation Insurance |
| COO | 401K Agreements |
| COO | Health and Wellness Plan Contracts |
| COO | Wellness Center needs |
| Business Operations Manager | Purchasing software/hardware and/or any ancillary services relating to software/hardware less than $35,000 per year. |
| Business Operations Manager | Service Contracts (e.g. Pee Dee Foods, cleaning services, etc.) |
| Management Team and PCard holders | Contracts for purchases of goods or services, not including hardware and software, under $10,000 per year. |
| Talent Acquisition, Senior Manager | Employment contracts (employee/ long term contractors) - i.e. Trainers |
| Risk Manager | Licensing Agreements |
| Director of Ministry Success | ODBC Agreements, Realm Data Extract Agreements, OnDemand Authorization Update Forms |
| VP Sales / Director, Marketing | Press/Media Releases |
Implied Representations of Signatory
When an authorized signatory signs a Contract on behalf of ACST, in good faith they make the following representations:
The signatory is acting within their delegated authority.
The signatory is satisfied that the obligations or promises within the Contract generally conform to ACST policy and are in the best interest of the company.
The signatory is satisfied that the terms of the Contract are stated accurately, completely, and in adequate detail.
The signatory has no reason to believe that an impermissible conflict of interest exists as a result of entering into the Contract.
The signatory knows and understands the potential risks associated with the engagement, and is satisfied that the benefits of doing business outweigh the risks.
The signatory is satisfied that the agreement does not conflict with existing company agreements.
Unauthorized Contracts
Any business relationship, arrangement, or Contract (including click-to-accept subscriptions or free trials) with any outside person or entity that is entered into on behalf of ACST should be reviewed by Risk / Legal prior to signing. Enter your requests here.
Management of Contracts
All contracts and other legal agreements must be saved in Concord. If your contract is not signed using Concord, a PDF file must be uploaded to Concord. By law, we are required to store these documents for a period of no less than one (1) year after expiration or termination. This includes any click-to-subscribe purchases made online, as ACST is subject to those terms and conditions which are legally binding. Ninety (90) days prior to renewal, the authorized signatory or point person will be reminded of the contract and asked if services and payment are still necessary. If changes need to be made, the contract may need to undergo another legal due diligence review, requested using the same form. Contracts with automatic renewal or multi-year terms are tagged for careful attention and possible re-review.