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The Authorization Letter For Getting Money is a crucial document in Indian financial and business transactions where one party needs to delegate the authority to collect money to another. This document is commonly used when the principal cannot personally collect funds due to various circumstances such as physical absence, illness, or business efficiency requirements. The letter must comply with Indian Contract Act, 1872, and relevant banking regulations, containing specific details about the authorizer, the authorized person, the amount to be collected, and the duration of authorization. It serves as a safeguard for all parties involved, including the bank or financial institution disbursing the money, by clearly establishing the scope of authority and the terms of delegation. The document is particularly relevant in both personal and business contexts, requiring proper witnessing and sometimes notarization for added authenticity.

1. Date and Place: Current date and location where the letter is being executed

2. Recipient Details: Name and address of the bank/institution to whom the authorization letter is addressed

3. Authorizer Information: Complete details of the person giving authorization including full name, address, and identification details

4. Authorized Person Information: Complete details of the person being authorized including full name, address, and identification details

5. Purpose Statement: Clear statement of the purpose of authorization and amount to be collected

6. Authorization Scope: Specific powers being granted and any limitations

7. Validity Period: Clear mention of the duration for which the authorization is valid

8. Declaration: Statement confirming the voluntary nature of authorization and acceptance of responsibility

9. Signature Block: Space for signatures of authorizer, authorized person, and witnesses