The Authorization Letter For Bank Account Opening is a crucial document used in situations where an individual or entity needs to delegate the authority to open and potentially manage a bank account to another person in Austria. This document is particularly relevant when the account holder cannot be physically present for the account opening process, or when organizations need to authorize specific representatives to handle banking matters. The letter must comply with Austrian banking regulations, including the Bankwesengesetz (Banking Act) and Financial Market Anti-Money Laundering Act (FM-GwG). It typically includes comprehensive details about both the authorizer and the authorized person, specific powers granted, any limitations on the authority, and duration of the authorization. The document serves as a legal basis for the bank to accept instructions from the authorized representative while maintaining necessary security and compliance measures.
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1. Date and Place: Current date and location where the letter is being signed
2. Bank Details: Full name and address of the bank to which the authorization is addressed
3. Authorizer Information: Complete details of the person granting the authorization, including full name, address, and identification numbers
4. Authorized Person Information: Complete details of the person being authorized, including full name, address, and identification numbers
5. Authorization Scope: Clear statement of the specific powers being granted regarding the bank account opening
6. Account Specifications: Details of the type of account to be opened and any specific requirements or limitations
7. Duration of Authority: Specification of how long the authorization remains valid
8. Declaration and Signature: Formal declaration of the authorization and space for authorizer's signature
1. Witness Section: Section for witness details and signatures, used when additional verification is required by the bank or local regulations
2. Revocation Clause: Optional clause specifying conditions under which the authorization can be revoked, included when the authorizer wants to establish specific termination conditions
3. Special Instructions: Any specific instructions or limitations regarding the use of the account, included when there are particular requirements or restrictions
4. Translation Declaration: Required when the letter is being prepared in multiple languages, certifying that all versions are equivalent
1. Identification Documents: Copies of valid identification documents of both the authorizer and authorized person
2. Proof of Address: Recent utility bills or official documents proving the address of both parties
3. Specimen Signature: Official specimen signature of the authorizer and authorized person
4. Notary Certificate: If required, notarial certification of the authorization letter
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Legal Services
Business Consulting
International Trade
Real Estate
Retail
Manufacturing
Education
Healthcare
Hospitality
Non-Profit Organizations
Relevant Teams
Legal
Finance
Compliance
Treasury
Corporate Services
Administration
Operations
Risk Management
International Business
Corporate Governance
Relevant Roles
Chief Financial Officer
Finance Director
Account Manager
Legal Counsel
Compliance Officer
Company Secretary
Treasury Manager
Financial Controller
Banking Relationship Manager
Business Development Manager
Administrative Officer
Operations Manager
Corporate Services Manager
Risk Manager
General Counsel
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