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Authorization Letter For Money Transfer

Authorization Letter For Money Transfer Template for Indonesia

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Key Requirements PROMPT example:

Authorization Letter For Money Transfer

"I need an Authorization Letter for Money Transfer that allows my finance manager to make international transfers up to USD 50,000 per transaction from our Indonesian corporate account to our suppliers in Singapore, valid from January 1, 2025, to December 31, 2025."

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Document background
The Authorization Letter For Money Transfer is a crucial document in Indonesian banking and financial transactions, used when an individual or organization needs to delegate the authority to conduct monetary transfers to another party. This document becomes necessary in various situations, such as when the account holder is unavailable, for regular business transactions, or for scheduled international transfers. The letter must adhere to Indonesian banking regulations, including Law No. 10 of 1998 and anti-money laundering provisions. It typically includes comprehensive details about all parties involved, specific transfer instructions, validity period, and security measures. The document's format and content must satisfy both bank compliance requirements and legal standards for authorization in Indonesia, often requiring witness signatures and potentially notarization for larger transactions.
Suggested Sections

1. Letter Date and Location: Current date and place where the letter is being executed

2. Authorizer Details: Full name, ID number, address, and contact information of the person giving the authorization

3. Authorized Party Details: Full name, ID number, address, and contact information of the person being authorized to conduct the transfer

4. Authorization Statement: Clear statement of authorization being granted for money transfer

5. Transfer Details: Specific details about the transfer including amount, bank account information for source and destination

6. Duration of Authorization: Time period for which the authorization is valid

7. Signature Block: Space for signatures of authorizer, authorized party, and witnesses

Optional Sections

1. Purpose of Transfer: Statement explaining the reason for the transfer - recommended when required by bank compliance procedures or for large transfers

2. Transfer Limitations: Any restrictions or conditions on the authorization - useful for recurring or multiple transfer authorizations

3. International Transfer Details: Additional information required for international transfers including SWIFT codes and foreign bank details

4. Language Declaration: Statement about language versions if the letter is bilingual - needed for international transfers

5. Emergency Contact: Alternative contact information in case of transfer issues - useful for high-value transfers

Suggested Schedules

1. Copy of Authorizer's ID: Certified copy of authorizer's government-issued identification

2. Copy of Authorized Party's ID: Certified copy of authorized party's government-issued identification

3. Bank Account Details: Official bank statement or documentation showing account ownership

4. Power of Attorney: Additional power of attorney document if required by the bank for large transfers

5. Witness Declaration: Separate witness statements if required by bank regulations

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking & Financial Services

Corporate Services

Legal Services

International Trade

Real Estate

Retail

Manufacturing

Education

Healthcare

Construction

Import/Export

Professional Services

Relevant Teams

Finance

Legal

Compliance

Treasury

Operations

Administration

Risk Management

Corporate Secretariat

Banking Relations

International Business

Relevant Roles

Finance Manager

Account Manager

Corporate Treasurer

Financial Controller

Banking Relations Manager

Compliance Officer

Legal Counsel

Company Secretary

Chief Financial Officer

Administrative Assistant

Personal Assistant

Business Owner

Managing Director

Operations Manager

Financial Analyst

Risk Manager

Industries
Law No. 10 of 1998 on Banking: The primary banking law in Indonesia that regulates banking activities, including money transfers and banking transactions. This law provides the fundamental framework for banking operations and customer transactions.
Law No. 8 of 2010 on Prevention and Eradication of Money Laundering: Establishes requirements for financial transactions, including reporting obligations and customer due diligence procedures for money transfers above certain thresholds.
Indonesian Civil Code (KUHPerdata): Contains provisions regarding power of attorney and authorization (particularly Articles 1792-1819), which form the legal basis for authorization letters.
Bank Indonesia Regulation No. 3/10/PBI/2001: Regulates the application of Know Your Customer (KYC) principles, which are crucial for verification of identity in financial transactions.
Bank Indonesia Regulation No. 14/23/PBI/2012: Governs fund transfer transactions, including requirements for domestic and international transfers.
OJK Regulation No. 12/POJK.01/2017: Financial Services Authority regulation on the Implementation of Anti-Money Laundering and Prevention of Terrorism Funding Programs in Financial Services Sector.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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