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Authority Letter For Cheque Book Collection for Singapore

Authority Letter For Cheque Book Collection Template for Singapore

An Authority Letter for Cheque Book Collection is a formal document used in Singapore's banking system that grants specific authorization to a designated individual to collect a cheque book on behalf of the account holder. The document must comply with Singapore banking regulations, including the Banking Act and relevant MAS guidelines, and typically includes detailed identification information for both the account holder and the authorized person, specific bank account details, and clear authorization statements.

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Authority Letter For Cheque Book Collection

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What is a Authority Letter For Cheque Book Collection?

The Authority Letter For Cheque Book Collection is a crucial document in Singapore's banking operations when account holders cannot personally collect their cheque books. It serves as a security measure ensuring that cheque books are only released to properly authorized individuals. The document must include specific details as required by Singapore banking regulations, including full identification of all parties, account details, and clear authorization statements. It's commonly used by businesses, individuals who are traveling or indisposed, and in situations where the account holder delegates banking tasks to authorized representatives. The letter typically requires the account holder's signature matching bank records and may need to be accompanied by identification documents as per specific bank requirements.

What sections should be included in a Authority Letter For Cheque Book Collection?

1. Date and Location: Current date and place of writing

2. Bank Details: Name and branch of the bank where the cheque book is to be collected

3. Account Holder Details: Full name, account number, and contact information of the account holder

4. Authorized Person Details: Full name, ID number, and contact information of the person authorized to collect

5. Authorization Statement: Clear statement of authority being granted for cheque book collection

6. Account Holder's Signature: Signature matching bank records

What sections are optional to include in a Authority Letter For Cheque Book Collection?

1. Validity Period: Specific timeframe for which the authorization is valid, used when authority needs to be time-limited

2. Specific Cheque Book Details: Number of cheque books or specific series numbers, used when collecting multiple or specific cheque books

3. Witness Details: When additional verification is required by the bank

What schedules should be included in a Authority Letter For Cheque Book Collection?

1. ID Copies: Copies of identification documents for both account holder and authorized person

2. Specimen Signature: Copy of account holder's specimen signature as registered with the bank

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Sector

Banking

Cost

Free to use
Relevant legal definitions










Clauses










Industries

Banking Act (Chapter 19): Primary legislation governing banking operations in Singapore, including provisions about banking instruments and security measures

Bills of Exchange Act (Chapter 23): Legislation regulating negotiable instruments including cheques, relevant for matters concerning cheque books and their handling

Personal Data Protection Act 2012 (PDPA): Law governing the handling of personal information, ensuring proper consent and data protection measures for both account holder and authorized person

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations, including Know Your Customer (KYC) requirements and identity verification procedures

MAS Guidelines: Monetary Authority of Singapore guidelines covering banking security and requirements for banking documentation

ABS Guidelines: Association of Banks in Singapore guidelines establishing industry standards for banking operations and best practices for handling banking instruments

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