Authorization Letter For Payment On Behalf Template for Switzerland

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Key Requirements PROMPT example:

Authorization Letter For Payment On Behalf

I need an Authorization Letter for Payment on Behalf that allows my Finance Director to make payments up to CHF 50,000 per transaction from our Swiss corporate account during my six-month sabbatical from January 2025 to June 2025.

Document background

The Authorization Letter For Payment On Behalf is a crucial document used in Switzerland when an individual or organization needs to delegate payment authority to another party. This document is particularly relevant in situations involving extended business travel, medical circumstances, or complex business operations requiring delegated payment authority. It must comply with Swiss banking regulations, anti-money laundering laws, and the Swiss Code of Obligations. The document specifies the scope of payment authority, including any limitations on amount or transaction type, duration of the authorization, and relevant bank account details. It's commonly used by businesses, family offices, and individuals to ensure continuous payment operations while maintaining proper controls and legal compliance. The letter typically requires formal verification and may need to be accompanied by specific identification documents as required by Swiss banking regulations.

Suggested Sections

1. Date and Place: Current date and location where the letter is signed

2. Authorizing Party Details: Full name, address, and identification details of the person/entity giving authorization

3. Authorized Representative Details: Full name, address, and identification details of the person/entity being authorized to make payments

4. Authorization Scope: Clear specification of the payment authority being granted, including any limitations on amount, frequency, or type of payments

5. Duration of Authority: Specific timeframe for which the authorization is valid

6. Bank Account Details: Relevant bank account information from which payments will be made

7. Declaration of Authority: Explicit statement of authorization and confirmation of the authorizing party's legal capacity to grant such authority

8. Signature Block: Space for signatures of the authorizing party, including any witness requirements

Optional Sections

1. Revocation Clause: Include when the authorizing party wants to explicitly state conditions under which the authorization can be revoked

2. Reporting Requirements: Add when the authorized party needs to provide regular reports of payments made

3. Multiple Bank Accounts: Include when authorization covers payments from multiple accounts

4. Emergency Contact Details: Add when there's a need to specify alternative contacts for urgent payment matters

5. Indemnification Clause: Include when the authorizing party wants to address liability concerns

Suggested Schedules

1. Identity Verification Documents: Copies of identification documents for both parties (passport/ID card)

2. Bank Account Verification: Official bank documents confirming account ownership and details

3. Payment Parameters: Detailed list of payment limits, approved payees, or specific payment instructions if applicable

4. Specimen Signature: Official specimen signature of the authorized representative

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Banking and Financial Services

Corporate Services

Real Estate

Healthcare

Education

Professional Services

Retail

Manufacturing

Hospitality

Non-Profit Organizations

Investment Management

Family Offices

Relevant Teams

Finance

Legal

Compliance

Treasury

Operations

Administration

Corporate Secretariat

Risk Management

Banking Relations

Executive Office

Relevant Roles

Chief Financial Officer

Finance Manager

Treasury Manager

Account Manager

Business Owner

Executive Assistant

Power of Attorney Holder

Family Office Manager

Financial Controller

Compliance Officer

Legal Counsel

Banking Relationship Manager

Corporate Secretary

Operations Manager

Administrative Director

Find the exact document you need

Authorization Note

A Swiss law-compliant document that formally delegates specific powers from one party to another, establishing legal authorization for representation or specific actions.

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Let's create your Authorization Letter For Payment On Behalf

Authors

Alex Denne

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