Document background
A Bank Waiver is essential in the Swiss banking context where strict banking secrecy laws typically prevent the disclosure of client information. This document becomes necessary when legitimate business, regulatory, or legal requirements necessitate the sharing of banking information with third parties. The waiver must be carefully drafted to comply with Swiss federal laws, including the Banking Act and Data Protection Act, while providing sufficient flexibility for its intended purpose. It typically specifies the scope of information that can be shared, the duration of the authorization, and the specific parties authorized to receive the information. The document is particularly important in international business contexts, corporate structures, and situations requiring regulatory oversight or audit activities.
