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An Authorization Letter For Claiming Money is a crucial document in Philippine business and personal transactions where one party needs to authorize another to collect funds on their behalf. This document is commonly used when the principal cannot personally appear to claim money due to various circumstances such as being overseas, physical inability, or business commitments. The letter must comply with Philippine banking and financial regulations, including the Civil Code provisions on agency relationships and the Anti-Money Laundering Act requirements. It typically requires notarization to be legally binding and must include specific details such as the identities of both the principal and the attorney-in-fact, the exact amount to be claimed, relevant account or reference numbers, and the scope and duration of the authority granted. Financial institutions in the Philippines often have their own additional requirements for accepting such authorization letters to ensure security and legal compliance.

1. Date and Place: Current date and location where the letter is being executed

2. Recipient Details: Name and address of the institution or person to whom the authorization letter is addressed

3. Subject Line: Clear indication that this is an Authorization Letter for Claiming Money

4. Principal's Information: Complete name, address, and identification details of the person giving the authorization

5. Attorney-in-Fact Information: Complete name, address, and identification details of the person being authorized to claim the money

6. Transaction Details: Specific details about the money to be claimed, including amount, source, and any reference numbers

7. Powers Granted: Explicit statement of the powers being granted to the attorney-in-fact

8. Duration of Authority: Validity period of the authorization

9. Signature Block: Space for principal's signature, with complete name and date

10. Notary Public Section: Space for notarization requirements including jurat and acknowledgment