The Authorization To Release Loan Information is a critical document used in the Philippine financial sector when loan account holders need to authorize their financial institutions to share their loan information with specific third parties. This authorization is particularly important given the strict requirements of the Philippines' Bank Secrecy Law (R.A. 1405) and Data Privacy Act of 2012 (R.A. 10173), which generally prohibit the disclosure of bank account information without explicit consent. The document is commonly required for various purposes, including loan refinancing, credit applications, legal proceedings, or business transactions requiring verification of loan status. It includes specific details about the authorizing party, the loan accounts involved, the recipient of the information, and the scope and duration of the authorization.

1. Party Information: Full legal name, address, and identification details of the person authorizing the release of information (including valid government ID numbers)

2. Loan Account Details: Specific details of the loan account(s) for which information is to be released, including account numbers and types of loans

3. Recipient Information: Identity and details of the institution/person authorized to receive the loan information

4. Scope of Authorization: Specific types of loan information authorized for release and the purpose for which the information will be used

5. Duration of Authorization: Time period for which the authorization remains valid, including start and end dates if applicable

6. Data Privacy Statement: Statement acknowledging consent to data sharing under the Data Privacy Act of 2012

7. Authorization Declaration: Clear statement of authorization and certification that all information provided is true and correct