The Authorization Letter For Claiming Money is an essential document in Saudi Arabian business and personal financial transactions, used when an individual or entity needs to delegate the authority to collect funds to another party. This document becomes necessary in various situations, such as when the original beneficiary cannot personally collect payments, during corporate transactions, or in cases involving overseas parties. The letter must adhere to strict Saudi Arabian legal requirements, including compliance with Sharia law, SAMA regulations, and anti-money laundering provisions. It requires specific details about the authorized amount, the scope of authority, and often needs to be notarized to be legally valid. The document serves as a crucial tool in maintaining clear audit trails and legal protection for all parties involved in the financial transaction.
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1. Date and Place: Current date and location where the letter is being executed
2. Authorizer Details: Full legal name, ID/Iqama number, contact details, and address of the person giving authorization
3. Authorized Person Details: Full legal name, ID/Iqama number, contact details, and address of the person being authorized
4. Purpose of Authorization: Clear statement of the specific purpose - claiming money on behalf of the authorizer
5. Scope of Authority: Detailed description of what actions the authorized person can take
6. Financial Details: Specific information about the money to be claimed, including amount and source
7. Duration of Authority: Validity period of the authorization
8. Signature Block: Space for signatures, witness details, and notary authentication
1. Special Instructions: Used when specific procedures or requirements need to be followed in claiming the money
2. Limitations of Authority: Include when there are specific restrictions on what the authorized person can do
3. Revocation Clause: Added when specific conditions for revoking the authorization need to be stated
4. Language Declaration: Used when the letter is bilingual (Arabic/English) to specify which version prevails
5. Additional Authorizations: Include when the authorized person needs power to sign additional documents or take related actions
1. Schedule A - Payment Details: Detailed information about the payment to be collected, including bank details, check numbers, or other relevant financial information
2. Schedule B - Required Documents: List of documents the authorized person needs to present when claiming the money
3. Schedule C - Specific Procedures: Step-by-step procedures to be followed for claiming the money, if required by the paying entity
4. Appendix 1 - Identity Documents: Copies of identity documents of both parties to be attached to the letter
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