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An Authorization Letter For Credit Card is essential when a cardholder needs to delegate credit card usage rights to another person in Singapore. This document serves as a legal safeguard for all parties involved, ensuring compliance with Singapore's financial regulations and banking laws. The letter typically specifies the authorized user's details, permitted transactions, spending limits, and authorization period. It's commonly used for business expenses, family members' purchases, or when the cardholder cannot personally make transactions. The document must adhere to Singapore's Banking Act and MAS guidelines to ensure its validity and enforceability.
