This document is an acceptance of authorisation / appointment by a third party in relation to the operation of an account kept with a financial institution for investment / trading purposes. The third party which is authorised to operate the company's account is not a staff of the company.
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The document should be signed by the authorised signatory (or directors of a company) and witnessed to complete the formality.
The document titled 'Authorisation Letter to Financial Institution' is an important document that serves the purpose of granting authorization to operate a specific account in a financial institution. This document is typically used when an individual or a group of individuals, referred to as the 'authorised person(s)', need to be granted access and control over a specific account held with a financial institution.
The entire document consists of a title, a recipient section, a date section, a salutation, a declaration section, and a signature section. Each section has its own significance and plays a crucial role in conveying the necessary information and fulfilling the legal requirements.
The title of the document, 'Authorisation Letter to Financial Institution', clearly indicates the purpose of the document, which is to authorize the designated person(s) to operate a specific account. This title helps in identifying the document and its purpose at first glance.
The recipient section of the document includes the name of the financial institution, which is referred to as the 'company'. It also includes the address of the company, which is mentioned as 'account job address multi line'. This section is important as it specifies the intended recipient of the letter.
The date section of the document is crucial as it indicates the date on which the letter is being written. The current date is mentioned in this section, ensuring that the document is up to date and valid.
The salutation section of the document is addressed to the 'sirs/madams' of the financial institution. This section serves the purpose of greeting the recipient and establishing a formal tone for the letter.
The declaration section of the document is the main body of the letter. It includes a statement of acceptance of the authorization to operate the account. The authorized person(s) declare that they have accepted the appointment and confirm that they are not an employee of the company. This section is crucial as it clearly states the intention and acceptance of the authorized person(s).
The signature section of the document includes space for the authorized person(s) to sign the letter. This section is important as it provides a means of verifying the authenticity of the letter and the authorization.
In summary, the 'Authorisation Letter to Financial Institution' is a document that grants authorization to operate a specific account. It consists of various sections, including the title, recipient section, date section, salutation, declaration section, and signature section. Each section serves a specific purpose and contributes to the overall effectiveness and legality of the document.
1. Enter the name and address of the financial institution, referred to as the 'company', in the recipient section of the letter.
2. Specify the current date in the date section of the letter.
3. Address the letter to the 'sirs/madams' of the financial institution in the salutation section.
4. In the declaration section, clearly state that the authorized person(s) accept the appointment and confirm that they are not an employee of the company.
5. Provide space for the authorized person(s) to sign the letter in the signature section.
It is important to ensure that all the necessary information is accurately filled in each section of the letter. Double-check the name and address of the financial institution, the current date, and the declaration statement to avoid any errors or misunderstandings. Additionally, make sure that the authorized person(s) sign the letter in the designated space to validate the authorization.
Once the letter is completed and signed, it should be submitted to the financial institution according to their specified procedures. It is advisable to keep a copy of the letter for future reference and to maintain a record of the authorization.
Note: This guidance is provided for informational purposes only and does not constitute legal advice. It is recommended to consult with a legal professional or financial institution for specific guidance and requirements related to authorizing the operation of an account.