An Authorization Letter To Collect Bank Guarantee is a crucial document in Malaysian business operations, particularly in sectors requiring financial securities and guarantees. This document becomes necessary when a company or individual needs to delegate the authority to collect a bank guarantee to a representative, common in situations involving tender submissions, project contracts, or commercial agreements. Under Malaysian law, specifically the Financial Services Act 2013 and related banking regulations, this authorization must be properly documented to ensure legal validity and acceptance by financial institutions. The letter must include specific details about the bank guarantee, the authorized person, and the scope of authority granted, while complying with relevant anti-money laundering regulations and bank verification requirements.
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1. Letter Header: Company letterhead, date, reference number, and addressing the relevant bank branch
2. Subject Line: Clear indication that this is an Authorization Letter for Bank Guarantee Collection
3. Authorizing Party Details: Full details of the company/individual granting the authorization, including registration numbers or identification details
4. Bank Guarantee Details: Specific details of the bank guarantee including guarantee number, amount, and issuing branch
5. Authorization Statement: Clear and explicit statement of authorization granted to collect the bank guarantee
6. Authorized Person Details: Complete information about the person being authorized, including full name and identification number
7. Validity Period: Specific timeframe for which the authorization is valid
8. Authentication: Signatures, company stamp if applicable, and designation of signing authority
1. Special Instructions: Any specific instructions or conditions for collecting the bank guarantee, used when there are particular requirements or restrictions
2. Multiple Authorized Persons: Section listing multiple authorized persons when more than one person is being authorized, including their hierarchical authority if applicable
3. Purpose Statement: Explanation of why the bank guarantee is being collected, used when required by bank policy or for clarity
4. Contact Information: Additional contact details for verification purposes, used when enhanced security measures are required
1. Identification Documents: Copies of identification documents of the authorized person(s)
2. Bank Guarantee Details: Detailed information about the bank guarantee including terms and conditions
3. Company Authorization: Board resolution or other company documents authorizing the issuance of this letter, if applicable
Relevant legal definitions
Clauses
Relevant Industries
Construction
Real Estate
Manufacturing
International Trade
Infrastructure Development
Government Contracting
Telecommunications
Energy
Mining
Transportation
Relevant Teams
Legal
Finance
Treasury
Procurement
Administration
Compliance
Corporate Secretarial
Project Management
Operations
Risk Management
Relevant Roles
Finance Manager
Project Manager
Company Secretary
Legal Counsel
Treasury Manager
Procurement Officer
Contract Administrator
Chief Financial Officer
Business Development Manager
Compliance Officer
Corporate Secretary
Administrative Officer
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