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The Cancel Loan After Approval Letter is a crucial document used in UAE banking operations when a borrower decides not to proceed with a loan after receiving approval but before the actual disbursement. This document becomes necessary in various situations, such as when borrowers find alternative financing, experience changes in their financial circumstances, or decide to modify their financial plans. The letter must comply with UAE Central Bank regulations and local banking practices, including any applicable cooling-off periods and cancellation fees. It serves as official documentation of the borrower's decision and protects both the bank and the borrower by clearly terminating the approved loan facility. The document typically includes references to the original loan approval, complete borrower information, specific loan details, and explicit cancellation instructions.

1. Letter Header: Full contact details of sender and recipient, date, and reference numbers

2. Subject Line: Clear indication that this is a loan cancellation request with reference to the loan approval

3. Loan Details: Specific details of the approved loan including approval date, loan amount, and any reference numbers

4. Cancellation Statement: Clear and unambiguous statement of intention to cancel the approved loan

5. Reason for Cancellation: Brief explanation of the reason for cancellation (if required by bank policy)

6. Acknowledgment of Terms: Statement acknowledging any applicable cancellation fees or conditions

7. Request for Confirmation: Request for written confirmation of the cancellation

8. Closing: Professional closing with full name, signature, and contact information