The invention described herein utilizes a universally known and accepted unique item that is independently identifiable and valuable so as to be constituted for difficulty of counterfeiting as an authenticator item. The identity of this item is included in an authorization calculation which can only be accomplished by an authorizing issuing authority. In a preferred embodiment of the invention, the authenticator is a serial numbered item such as a currency bill or note. The document may be created in a decentralized fashion using ordinary plain paper and the document may even take electronic or other forms. The issuing authority must have the critical or important details of the document and must authorize the creation of the document before it can be created. Further the document's authenticity may be verified without communication back to the issuing authority.The invention allows the creation of valuable negotiable business documents at locations throughout the world and the creation may be done by any of an issuing authority, an agent of the issuing authority, a bearer and even the buyer. The invention described allows cancellation to prevent negotiation of an electronic document regardless of how many copies are extant in computers or other form merely by defacing or destroying the associated authenticator.