The Authorization Letter For Claiming Money is a crucial document in Swiss financial and legal practice, commonly used when an individual or entity needs to delegate the authority to collect or manage funds to another party. This document becomes necessary in various situations, such as when the principal is unable to personally collect funds, during international transactions, or in cases of corporate representations. Swiss law requires specific elements to be included in such authorization letters, including clear identification of parties, explicit scope of authority, and often, notarization. The document must comply with Swiss banking regulations, the Code of Obligations regarding agency relationships, and data protection laws. It's particularly relevant in the Swiss banking context, where strict formality requirements and privacy laws govern financial transactions and representations.
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1. Date and Place: Current date and location where the letter is being executed
2. Authorizer Details: Full name, address, and identification details of the person granting the authority
3. Authorized Person Details: Full name, address, and identification details of the person being authorized
4. Purpose and Scope: Clear statement of the specific authority being granted, including account details and amount
5. Duration of Authority: Validity period of the authorization
6. Powers Granted: Specific actions the authorized person can take
7. Authorizer Declaration: Statement confirming the voluntary nature of authorization
8. Signature Block: Space for signatures, witness details, and notarization if required
1. Special Conditions: Any specific conditions or restrictions on the authority granted
2. Revocation Clause: Terms under which the authorization can be revoked before expiry
3. Substitute Authority: Permission for the authorized person to delegate authority to another person
4. Governing Law: Specific mention of Swiss law application when dealing with international matters
5. Language Declaration: Required when the letter needs to be valid in multiple languages
1. Copy of Authorizer's ID: Certified copy of passport or national ID of the person granting authority
2. Copy of Authorized Person's ID: Certified copy of passport or national ID of the person receiving authority
3. Account Details: Separate schedule with relevant bank account information
4. Specimen Signature: Official specimen signature of the authorized person
5. Translation Certificate: Official translation if the letter needs to be used in non-Swiss jurisdictions
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Legal Services
Insurance
Real Estate
Investment Management
Corporate Services
Private Wealth Management
Public Administration
Healthcare
Education
Relevant Teams
Legal
Compliance
Banking Operations
Client Services
Document Management
Risk Management
Treasury
Corporate Secretariat
Private Banking
Wealth Management
Relevant Roles
Legal Counsel
Compliance Officer
Bank Manager
Financial Advisor
Corporate Secretary
Trust Officer
Relationship Manager
Treasury Manager
Power of Attorney Administrator
Document Control Specialist
Risk Manager
Private Client Manager
Operations Manager
Legal Administrator
Wealth Manager
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