Document background
The Authorization Letter For Co Borrower is a crucial document in Singapore's lending landscape, commonly used when an additional borrower needs to be added to a loan arrangement. This document is essential for various scenarios, such as joint property purchases, family loans, or business financing where multiple parties share loan responsibilities. The letter must comply with Singapore's Banking Act, MAS guidelines, and PDPA requirements, ensuring proper authorization and protection of all parties involved. It typically includes detailed identification of all parties, specific loan references, scope of authorization, and may require witness attestation depending on the loan amount and type.
