Document background
The Bank Authorization Letter is a crucial document in Danish banking practice, used when an individual or organization needs to delegate banking authority to another party. This document is essential for situations ranging from personal banking matters to complex corporate arrangements. The letter must comply with Danish banking regulations, including the Danish Financial Business Act and anti-money laundering requirements. It typically includes detailed information about the grantor and grantee, specific banking powers being delegated, transaction limits, and duration of authority. The Bank Authorization Letter serves as a formal communication to the bank and a legal record of the granted authority, making it particularly important in situations involving business continuity, temporary delegation of authority, or long-term banking arrangements.
