An Authorization Letter To Withdraw Money On My Behalf is a critical document in Pakistani banking and legal practice, commonly used when an account holder needs to delegate their banking authority to another person. This might occur due to travel, illness, business commitments, or other circumstances preventing direct account access. The document must comply with Pakistani banking regulations, including the Power of Attorney Act, 1882, and requires specific components such as clear identification of parties, precise banking details, withdrawal limits, and validity period. It serves as a legal instrument that protects both the authorizer's and the bank's interests while facilitating necessary financial transactions through an authorized representative.
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1. Date and Place: The date and location where the authorization letter is being executed
2. Authorizer Details: Full name, address, CNIC number, and contact information of the person giving the authorization
3. Authorized Person Details: Full name, address, CNIC number, and contact information of the person being authorized to withdraw money
4. Bank Account Details: Specific bank account information including account number, branch details, and bank name
5. Authorization Statement: Clear statement of authorization specifying the powers being granted for withdrawing money
6. Transaction Limits: Specific limits on withdrawal amounts and frequency if applicable
7. Duration of Authority: The time period for which the authorization is valid
8. Signature Block: Space for signatures of the authorizer, authorized person, and witnesses
1. Purpose of Authorization: Used when there's a specific purpose for the authorization that needs to be documented
2. Special Instructions: Include when there are specific conditions or instructions for withdrawals
3. Revocation Clause: Used when the authorizer wants to specify conditions under which the authorization can be revoked
4. Indemnification: Optional clause protecting the bank from liability, used in high-value transactions
5. Multiple Account Authorization: Used when authorization covers multiple bank accounts
1. Copy of Authorizer's CNIC: Attached photocopy of the authorizer's national identity card
2. Copy of Authorized Person's CNIC: Attached photocopy of the authorized person's national identity card
3. Bank Account Statement: Recent bank statement showing the account details and number
4. Specimen Signature Card: Card containing specimen signatures of both the authorizer and authorized person
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