The Authorization Letter To Open Bank Account is a crucial document in Singapore's banking ecosystem, particularly when an individual or entity needs to delegate the authority to open and manage bank accounts. This document is commonly used in situations involving overseas business owners, corporate representatives, or when individuals are unable to be physically present for account opening procedures. The letter must adhere to strict Singapore banking regulations, including MAS guidelines and anti-money laundering requirements. It typically contains comprehensive details about the authorizer, the authorized person, specific banking powers granted, and must be properly witnessed and documented to ensure legal validity.
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1. Date and Place: Current date and location where the authorization letter is executed
2. Bank Details: Full name and address of the bank where the account is to be opened
3. Authorizer Details: Full name, ID/passport number, address and contact details of the person giving authorization
4. Authorized Person Details: Full name, ID/passport number, address and contact details of the person being authorized
5. Authorization Statement: Clear statement of authorization being granted to open and operate the bank account
6. Scope of Authority: Detailed description of what the authorized person can and cannot do with the account
7. Duration: Validity period of the authorization
8. Execution: Signature block including space for authorizer, authorized person, and witnesses
1. Corporate Authority: Required when the authorizer is acting on behalf of a company, including reference to corporate resolutions
2. Special Instructions: Any specific limitations, conditions, or special instructions regarding the authorization
3. Revocation Clause: Terms and conditions under which the authorization may be revoked
4. Emergency Contact: Alternative contact person details for urgent matters
1. Schedule A - Identity Documents: Copies of identification documents of both authorizer and authorized person
2. Schedule B - Corporate Documents: Company registration documents, board resolutions, and other corporate authorizations if applicable
3. Schedule C - Specimen Signatures: Sample signatures of the authorizer and authorized person
4. Schedule D - Bank Forms: Any specific bank forms required for the account opening process
Relevant legal definitions
Authorizer
Authorized Person
Bank
Bank Account
Banking Services
Authorization Period
Effective Date
Identification Documents
Specimen Signature
Authorized Powers
Banking Facilities
Account Opening Documentation
Signatory Rights
Transaction Limits
Operating Instructions
Account Type
Corporate Resolution
Witness
KYC Documents
Financial Institution
Authorized Person
Bank
Bank Account
Banking Services
Authorization Period
Effective Date
Identification Documents
Specimen Signature
Authorized Powers
Banking Facilities
Account Opening Documentation
Signatory Rights
Transaction Limits
Operating Instructions
Account Type
Corporate Resolution
Witness
KYC Documents
Financial Institution
Clauses
Authorization Scope
Powers Granted
Duration
Revocation Rights
Responsibilities
Document Access
Account Operation
Communication Authority
Liability Limitations
Representative Capacity
Specimen Signatures
Witness Requirements
Bank Instructions
Information Disclosure
Data Protection
Governing Law
Multiple Originals
Amendments
Termination Rights
Force Majeure
Powers Granted
Duration
Revocation Rights
Responsibilities
Document Access
Account Operation
Communication Authority
Liability Limitations
Representative Capacity
Specimen Signatures
Witness Requirements
Bank Instructions
Information Disclosure
Data Protection
Governing Law
Multiple Originals
Amendments
Termination Rights
Force Majeure
Relevant Industries
Relevant Teams
Relevant Roles
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