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The Authorization Letter To Collect Bank Guarantee is a crucial document in Nigerian business operations, particularly when companies need to delegate the authority to collect bank guarantees to specific representatives. This document becomes necessary when the original guarantor cannot personally collect the bank guarantee, often due to operational efficiency or practical constraints. The letter must comply with Nigerian banking regulations, including the BOFIA 2020 and Central Bank of Nigeria guidelines. It contains essential elements such as the details of the bank guarantee, identity of the authorized person, scope of authority, and validity period. The document serves as a security measure for banks and businesses, ensuring proper authorization and documentation in the handling of financial instruments.

1. Letter Header: Complete business letterhead including date, reference number, and formal address to the bank

2. Subject Line: Clear indication that this is an Authorization Letter for Collection of Bank Guarantee

3. Bank Guarantee Details: Specific details of the bank guarantee including guarantee number, amount, and issuing branch

4. Authorizer Details: Full details of the company/individual granting the authorization, including registration numbers if applicable

5. Authorized Person Details: Complete information about the person being authorized to collect the guarantee

6. Authorization Statement: Clear statement of authorization including the specific powers being granted

7. Validity Period: Specific timeframe for which the authorization is valid

8. Authentication: Signatures, company seal if applicable, and other verification details