Document background
The Authorization Letter For Financial Assistance is a crucial document in Singapore's financial landscape, commonly used when an individual needs to delegate financial responsibilities to another party. It's particularly relevant when the authorizer cannot personally handle financial matters due to absence, illness, or other circumstances. The document must comply with Singapore's stringent financial regulations, including MAS guidelines and the Banking Act. It typically specifies the scope of authority, duration, transaction limits, and includes necessary safeguards to protect both parties' interests. This authorization letter serves as a legal instrument recognized by Singapore financial institutions and regulatory bodies.
