The Authorization Letter for Jewelry Pawnshop serves as a crucial legal instrument in Singapore's regulated pawnbroking sector. This document becomes necessary when jewelry owners cannot personally conduct pawnbroking transactions and need to delegate this authority to a trusted representative. The letter must conform to Singapore's strict regulatory framework, particularly the Pawnbrokers Act 2015 and related legislation. It typically includes detailed identification of all parties, specific powers granted, transaction limits if any, and duration of authorization. This authorization is particularly important given Singapore's stringent requirements for identity verification and anti-money laundering compliance in precious metal transactions.
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1. Date and Location: Current date and place of execution of the authorization letter
2. Authorizer Details: Full name, NRIC/passport number, and contact details of person giving authorization
3. Authorized Party Details: Full name, NRIC/passport number, and contact details of person receiving authorization
4. Pawnshop Details: Name and license number of the pawnshop
5. Scope of Authorization: Specific powers being granted regarding jewelry transactions
6. Duration: Validity period of the authorization
7. Signature Block: Space for signatures of authorizer and witnesses
1. Specific Item Description: Detailed description of jewelry items, used when authorization is for specific items only
2. Transaction Limits: Maximum value limits for transactions, if applicable
3. Special Conditions: Any specific conditions or restrictions on the authorization
1. Copy of Authorizer's ID: Certified copy of NRIC/passport
2. Jewelry Documentation: Certificates or documentation of jewelry items if specifically listed
3. Proof of Ownership: Documents proving ownership of jewelry items
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