Document background
The Authorization Letter for Gold Loan Release is a crucial document in Singapore's secured lending landscape. It is required when a borrower has settled their gold loan and wishes to reclaim their pledged gold items from the financial institution. The letter serves as formal proof of the borrower's consent and instructions for releasing the collateral, protecting both the financial institution and the borrower under Singapore's regulatory framework. The document typically includes loan account details, gold specifications, authorization statements, and identity verification requirements, ensuring compliance with Singapore's Moneylenders Act and Pawnbrokers Act.
