Document background
The Authorization Letter for Bank Loan is a crucial document in Singapore's banking system, required when an individual or entity needs to authorize loan-related transactions or appoint a representative to handle loan matters. This document is particularly important in situations where the loan applicant cannot be physically present or wishes to delegate authority for loan processing. The letter must adhere to Singapore's strict banking regulations and typically includes the authorizer's details, specific powers granted, loan particulars, and validity period. It serves as a protective measure for both the bank and the authorizer, ensuring clear documentation of the authorization scope and responsibilities.
