Film Accounting Glossary
Bank signatory
What is a bank signatory?
Also called check signer, or signature authority.
A bank signatory is a person authorized to sign checks or release payments from the production's account, and the signatory scheme is one of a production's core financial controls.
Typical structures require two signatures above a dollar threshold, with the line producer or unit production manager and the studio or financier each holding one. A completion guarantor will often insist on being a co-signatory once it has stepped in.
Example
A typical scheme: the accountant prepares, the UPM signs alone up to $5,000, and anything above needs a second signature from the line producer or the studio. A completion guarantor that has stepped in usually adds itself as co-signatory.
Figures are illustrative, chosen to show the mechanics rather than to quote market rates.
Where you'll see it
The signature authority held on file at the bank, mirrored in the production's written controls policy.
Common mistake
Running a single signatory to keep things moving. It removes the one control that reliably catches both error and fraud on payments above a trivial size.
Related questions
- How many signatures does a production check need?
- Typically one below a threshold such as $5,000 and two above it, with the second held by the line producer, the studio, or the completion guarantor.
- Can a completion guarantor sign on the production account?
- Yes, and it commonly requires co-signatory rights once it has concerns or has formally stepped in, so no significant payment leaves without its knowledge.