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An Authorization Letter To Receive Money is a crucial document in Australian financial and business transactions where one party needs to delegate the authority to collect funds to another party. This document is commonly used when the original recipient of funds cannot personally collect money or manage a financial transaction. The letter must comply with Australian banking regulations, including the Banking Act 1959 and Anti-Money Laundering legislation. It typically includes detailed identification of all parties, specific authorization parameters, transaction details, and necessary security measures. Common use cases include business representatives collecting payments, family members handling financial matters for relatives, or agents managing transactions for clients. The document serves as a legal shield for all parties involved, including the financial institutions processing the transaction.

1. Date and Location: Current date and place where the letter is being written

2. Authorizer Details: Full name, address, and contact information of the person giving authorization

3. Recipient Bank/Institution Details: Name and address of the bank or financial institution where the money will be collected

4. Authorized Person Details: Full name, address, and contact information of the person being authorized to receive the money

5. Authorization Statement: Clear statement of authorization specifying the exact amount and purpose

6. Transaction Details: Specific details about the money to be received including amount, source, and any reference numbers

7. Signature Block: Space for authorizer's signature, witness signature if required, and date of signing