Application Definitions

Engage uses the following terms to describe the people and organizations involved in an application. These definitions explain what each term means and how it may apply during the application process.

• Authorized Representative – The person responsible for completing the application and authorized to enter information or answer questions on behalf of the applying entity. This person may be an Authorized Signer, a Controlling Person, or another designated company representative.
  
• Authorized Signer – A person who is authorized on the account and has signing authority with the financial institution.
• Controlling Person – A person who has significant control, management authority, or ownership interest in the applying entity.
  • This person may be both a Controlling Person and an Authorized Signer, or they may be only one of these roles.
• Applying Entity – The business or businesses applying for products or services.
• Non-Applying Entity – A business or organization related to the applying entity but not applying for products or services. Examples include parent companies, legal entities with ownership, or other affiliated organizations.