The Authorization Letter To Loan Money is a crucial document in Indian financial transactions that bridges the gap between principal parties when direct handling of loan matters is not feasible. This document becomes necessary when an individual or entity needs to delegate the authority to handle loan-related matters to another party, whether due to physical absence, business convenience, or other practical considerations. Governed by Indian contract law and financial regulations, it must comply with the Indian Contract Act, 1872, and relevant state-specific legislation. The letter typically specifies the scope of authority, loan amount, duration, and any specific conditions or limitations. It's commonly used in both personal and business contexts, requiring proper witness attestation and potentially notarization for legal validity. The document serves as protection for all parties involved, clearly delineating the boundaries of delegated authority in loan transactions.
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1. Date and Place: Current date and location of letter execution
2. Authorizer Details: Full name, address, and identification details of the person granting authorization
3. Authorized Person Details: Full name, address, and identification details of the person being authorized
4. Purpose Statement: Clear statement of authorization to loan money and its intended purpose
5. Loan Specifications: Details of the loan amount, terms, and conditions
6. Duration of Authority: Validity period of the authorization
7. Signature Block: Space for signatures of authorizer, authorized person, and witnesses
1. Collateral Details: Include when specific assets are being offered as security for the loan
2. Special Instructions: Any specific conditions or limitations on the authority being granted
3. Third-party Guarantor Details: When a guarantor is involved in the loan transaction
4. Revocation Clause: Specific conditions under which the authorization can be revoked
5. Indemnification Clause: Protection clause for the authorized person when acting within the scope of authority
1. Identity Proof: Copies of government-issued ID documents of both parties
2. Loan Terms Sheet: Detailed breakdown of loan amount, interest rate, repayment schedule
3. Collateral Documentation: Details and proof of ownership of any assets offered as collateral
4. Power of Attorney: If separate PoA is being referenced or attached
5. Bank Account Details: Account information for loan disbursement and repayment
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Legal Services
Real Estate
Small Business & Entrepreneurship
Personal Finance
Microfinance
Corporate Finance
Investment Services
Professional Services
Non-Banking Financial Companies (NBFCs)
Relevant Teams
Legal
Finance
Compliance
Risk Management
Operations
Administrative Services
Documentation
Credit Operations
Corporate Affairs
Treasury
Relevant Roles
Legal Counsel
Financial Manager
Loan Officer
Company Secretary
Compliance Officer
Risk Manager
Business Development Manager
Financial Advisor
Corporate Lawyer
Banking Operations Manager
Documentation Specialist
Credit Manager
Treasury Manager
Administrative Officer
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