An Authorization Letter For Receiving Money is a crucial document in Philippine business and personal transactions where one party needs to delegate the authority to collect funds to another person. This document is commonly used when the principal cannot personally receive money due to various circumstances such as being overseas, physical inability, or business commitments. The letter must comply with Philippine legal requirements, including proper notarization and specific content requirements under the Civil Code of the Philippines. It typically includes detailed identification of all parties involved, specific authorization scope, and relevant transaction details. The document is particularly important in the Philippine context due to strict banking regulations and the formal nature of financial transactions in the country. Financial institutions and other organizations in the Philippines typically require this type of authorization letter to be notarized to ensure its authenticity and legal validity.

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

2. Recipient Entity Details: Name and address of the bank, company, or institution to whom the authorization letter is addressed

3. Principal's Information: Complete name, address, and identification details of the person granting the authorization

4. Attorney-in-Fact/Authorized Person's Information: Complete name, address, and identification details of the person being authorized to receive the money

5. Purpose and Scope: Clear statement of the authorization being granted, including the specific amount to be received

6. Powers Granted: Detailed description of what the authorized person can do (receive money, sign receipts, etc.)

7. Principal's Declaration: Statement declaring the voluntary nature of the authorization and accepting responsibility for the authorized actions

8. Signature Block: Space for signatures of the principal, authorized person, and notary public