The Authorization Letter For Receiving Money is a crucial document in Austrian business and personal finance transactions where one party needs to formally authorize another to receive funds on their behalf. This document is commonly used in situations involving overseas transactions, business representations, or when the authorizer cannot personally receive funds. It must comply with Austrian legal requirements, particularly the ABGB (Austrian Civil Code) and banking regulations. The document includes essential elements such as party identification, transaction details, bank information, and specific authorization scope. It's particularly important in maintaining clear audit trails for financial transactions and satisfying anti-money laundering requirements. The letter can be used for single or recurring transactions and may require notarization depending on the amount or nature of the transaction.
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1. Date and Place: Current date and location where the letter is being executed
2. Authorizer Details: Full legal name, address, and identification details of the person giving authorization
3. Authorized Person Details: Full legal name, address, and identification details of the person being authorized to receive money
4. Purpose Statement: Clear statement of authorization purpose and intent to authorize the named person to receive money
5. Transaction Details: Specific amount, currency, and source of money to be received
6. Bank Account Information: Relevant bank account details where the money should be deposited
7. Duration of Authority: Validity period of the authorization
8. Signature Block: Space for authorizer's signature, date, and any required witness signatures
1. Special Instructions: Additional specific instructions or conditions for receiving or handling the money
2. Recurring Authorization: Include when authorization is needed for multiple or recurring collections
3. Revocation Terms: Specific conditions under which the authorization can be revoked
4. Third Party Notification: When specific parties (e.g., banks, employers) need to be notified of the authorization
5. Language Declaration: Required when the letter needs to be valid in multiple languages or jurisdictions
1. Identity Verification Documents: Copies of official ID documents of both authorizer and authorized person
2. Proof of Address: Recent utility bills or official documents showing current addresses
3. Bank Account Verification: Document confirming bank account ownership of the authorized person
4. Certified Translations: If original document is in multiple languages, certified translations may be attached
5. Witness Declarations: If required, signed statements from witnesses confirming the authorization
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Legal Services
Corporate Services
Real Estate
Insurance
Retail
Healthcare
Education
Manufacturing
Professional Services
Government and Public Sector
Non-Profit Organizations
Relevant Teams
Legal
Finance
Compliance
Administration
Treasury
Operations
Risk Management
Document Control
Corporate Secretariat
Banking Operations
Relevant Roles
Legal Counsel
Finance Manager
Compliance Officer
Banking Officer
Administrative Manager
Company Secretary
Treasury Manager
Accounts Receivable Specialist
Corporate Lawyer
Financial Controller
Operations Manager
Risk Manager
Business Development Manager
Transaction Banking Officer
Document Control Specialist
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