Document background
The Authorization Letter For Loan Application is a crucial document in Singapore's lending landscape, necessary when an individual needs to delegate authority for handling their loan application process. It is commonly used when the loan applicant cannot be physically present, requires assistance due to language barriers, or prefers to have a professional handle the application. The document must comply with Singapore's strict banking regulations and data protection laws, including the Banking Act and PDPA. It typically specifies the scope of authority, duration, and includes necessary personal information as required by MAS guidelines for proper verification and processing.
