New Signatory Introduction Letter Template for South Africa

The New Signatory Introduction Letter is a critical document in South African business operations, used when organizations need to authorize new individuals to act as signatories for banking, legal, or administrative purposes. This document is essential for compliance with South African banking regulations, particularly the Banks Act 94 of 1990 and FICA requirements. It formally establishes the authority of new signatories while ensuring proper verification and documentation of their powers. The letter includes crucial information such as the signatory's identification details, scope of authority, specimen signatures, and relevant corporate authorizations. It serves as a vital link between organizations and their financial institutions, ensuring smooth transitions in signatory changes while maintaining security and regulatory compliance.

1. Letter Header: Company letterhead, date, reference number, and recipient details

2. Subject Line: Clear indication that this is a New Signatory Introduction Letter

3. Introduction: Brief introduction of the purpose of the letter and reference to any relevant account numbers or relationships

4. New Signatory Details: Full name, position, ID number, and contact details of the new signatory

5. Scope of Authority: Clear description of the signing powers and limitations of the new signatory

6. Effective Date: Specification of when the new signing authority takes effect

7. Authentication Method: Details of how the signatory's signature will be verified (specimen signature)

8. Closing and Signatures: Formal closing, including signatures of authorized representatives confirming the appointment