The Authorization Letter To Collect Bank Guarantee is a crucial document in UAE business operations, particularly in sectors where bank guarantees are frequently used as security for commercial transactions. This document becomes necessary when a company needs to delegate the authority to collect a bank guarantee to a specific representative, which is common in situations involving tender submissions, project completions, or contract fulfillments. The letter must comply with UAE Federal Laws and banking regulations, requiring specific details such as the authorizer's information, authorized person's details, bank guarantee particulars, and clear authorization statements. It serves as a formal delegation tool that banks in the UAE recognize and accept for releasing bank guarantees, providing security and clarity in commercial transactions.
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1. Letter Header: Including date, reference number, and formal letterhead of the authorizing company
2. Recipient Details: Full name and address of the bank or financial institution holding the guarantee
3. Subject Line: Clear indication that this is an authorization letter for collecting bank guarantee
4. Authorizer Details: Complete information about the company/person giving the authorization, including trade license details if applicable
5. Authorized Person Details: Full information about the person being authorized to collect the guarantee
6. Bank Guarantee Details: Specific details of the bank guarantee including guarantee number, amount, and issuing branch
7. Authorization Statement: Clear and explicit statement of authorization for collecting the bank guarantee
8. Signature Block: Space for authorized signatory's name, title, signature, and company stamp
1. Validity Period: Specific timeframe for which the authorization is valid, used when the authorization needs to be time-bound
2. Special Instructions: Any specific conditions or instructions related to the collection of the guarantee, included when there are special requirements
3. Purpose Statement: Explanation of why the guarantee is being collected, included when context is important for the bank's records
4. Witness Section: Space for witness details and signatures, used when additional verification is required
1. Copy of Trade License: Attached copy of the authorizing company's valid trade license
2. Identity Documents: Copies of Emirates ID/Passport of both the authorizer and authorized person
3. Original Bank Guarantee: Details or copy of the original bank guarantee document for reference
4. Board Resolution: If applicable, company board resolution authorizing the signatory to issue such authorizations
Authors
Relevant legal definitions
Clauses
Relevant Industries
Construction
Real Estate
Trading
Manufacturing
Services
Logistics
Infrastructure Development
Oil & Gas
Telecommunications
Healthcare
Retail
Hospitality
Relevant Teams
Finance
Legal
Operations
Administration
Compliance
Treasury
Procurement
Contract Management
Corporate Secretariat
Business Development
Relevant Roles
Finance Manager
Chief Financial Officer
Legal Counsel
Company Secretary
Operations Manager
Project Manager
Procurement Manager
Treasury Manager
Business Development Manager
Administrative Officer
Compliance Officer
Contract Manager
General Manager
Managing Director
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