Credit Card Pre Authorization Form for Pakistan

Credit Card Pre Authorization Form Template for Pakistan

A Credit Card Pre-Authorization Form is a legal document used in Pakistan that allows businesses to temporarily reserve funds on a customer's credit card for future charges. The document complies with State Bank of Pakistan regulations and Pakistani banking laws, including the Payment Systems and Electronic Fund Transfers Act, 2007. It serves as a security measure for merchants while providing transparency to cardholders about potential charges. The form includes essential details such as merchant information, cardholder data, authorization terms, and data protection notices, all structured in accordance with Pakistani financial regulations and consumer protection laws.

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What is a Credit Card Pre Authorization Form?

The Credit Card Pre Authorization Form is a critical document used in Pakistani business transactions where merchants need to secure future payments or verify payment capability. This document is particularly relevant in scenarios such as hotel bookings, car rentals, or large purchases where a business needs to verify the availability of funds or reserve an amount for potential charges. The form must comply with Pakistani banking regulations, particularly the State Bank of Pakistan guidelines and the Payment Systems and Electronic Fund Transfers Act, 2007. It includes crucial information such as the authorized amount, duration of the authorization, cardholder details, and the specific terms of the pre-authorization. The document serves as both a security measure for businesses and a transparency tool for customers, ensuring all parties understand the terms of the potential transaction.

What sections should be included in a Credit Card Pre Authorization Form?

1. Merchant Information: Details of the business requesting the pre-authorization, including legal name, address, and contact information

2. Cardholder Information: Customer's full name, billing address, and contact details as they appear on the credit card

3. Credit Card Details: Masked credit card number, card type, expiration date, and card issuing bank

4. Transaction Details: Authorized amount, purpose of charge, and duration of authorization

5. Authorization Statement: Clear statement of what the cardholder is authorizing, including specific terms and conditions

6. Data Protection Notice: Statement on how credit card information will be stored, used, and protected

7. Signature Block: Space for cardholder signature, date, and confirmation of understanding

What sections are optional to include in a Credit Card Pre Authorization Form?

1. Recurring Payment Terms: Include when the pre-authorization is for recurring charges, specifying frequency and duration

2. Cancellation Policy: Include when specific cancellation terms need to be highlighted, especially for future dated transactions

3. Additional Services: Include when the pre-authorization may cover additional or variable charges

4. Foreign Transaction Notice: Include when transactions may be processed in foreign currency or through international payment networks

What schedules should be included in a Credit Card Pre Authorization Form?

1. Schedule of Charges: Detailed breakdown of all potential charges that may be applied under the pre-authorization

2. Terms and Conditions: Detailed terms and conditions referenced in the main form

3. Privacy Policy: Detailed privacy policy and data protection measures

4. Bank Authorization Form: Additional form required by specific banks or financial institutions

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

Jurisdiction

Pakistan

Publisher

Genie AI

Document Type

Authorization Form

Cost

Free to use
Relevant Industries

Hospitality

Travel and Tourism

Retail

E-commerce

Car Rental

Healthcare

Education

Professional Services

Telecommunications

Real Estate

Event Management

Relevant Teams

Finance

Accounts Receivable

Legal

Compliance

Risk Management

Front Office

Customer Service

Operations

Sales

Revenue Management

Reservations

Administration

Relevant Roles

Finance Manager

Accounts Receivable Specialist

Revenue Manager

Compliance Officer

Risk Manager

Sales Manager

Customer Service Manager

Operations Manager

Front Desk Manager

E-commerce Manager

Retail Store Manager

Financial Controller

Booking Coordinator

Reservations Manager

Industries
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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