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Authorisation Letter For Payment for the United Kingdom

Authorisation Letter For Payment Template for England and Wales

An Authorization Letter for Payment is a formal document used in England and Wales that grants specific permission to an individual or organization to make or receive payments on behalf of the authorizer. The document complies with UK financial regulations and includes detailed information about the parties involved, payment specifications, and authorization terms. It serves as a legal record of the granted authority and can be used for single or recurring payment arrangements.

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Authorisation Letter For Payment

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What is a Authorisation Letter For Payment?

The Authorization Letter for Payment is a crucial document in English and Welsh financial transactions where one party needs to delegate payment authority to another. This document is commonly used in situations requiring third-party payment processing, recurring payment arrangements, or when an authorized representative needs to handle financial transactions. The letter must comply with UK financial regulations, including the Payment Services Regulations 2017 and anti-money laundering requirements. It typically includes detailed information about all parties involved, specific payment instructions, duration of authority, and any conditions or limitations on the authorization.

What sections should be included in a Authorisation Letter For Payment?

1. Date: Current date of authorization

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

3. Recipient Details: Full name, address of person/entity receiving authorization

4. Payment Details: Amount, currency, payment method, and account details

5. Authorization Statement: Clear statement of authorization being granted

6. Signature Block: Authorizer's signature and date

What sections are optional to include in a Authorisation Letter For Payment?

1. Duration of Authority: Specific timeframe for authorization, used when authority is time-limited

2. Purpose of Payment: Explanation of payment reason, used when tracking or audit trail needed

3. Special Instructions: Any specific conditions or requirements, used when standard processing insufficient

4. Witness Section: Witness signature and information, used for high-value transactions

What schedules should be included in a Authorisation Letter For Payment?

1. Identity Verification Documents: Copies of identification documents of the authorizer

2. Supporting Documentation: Any relevant invoices or agreements referenced in the authorization

3. Bank Details Confirmation: Official bank documentation confirming account details

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Genie AI

Document Type

Letter of Authority

Sector

Banking

Cost

Free to use
Relevant legal definitions












Clauses














Industries

Bills of Exchange Act 1882: Primary legislation governing payment instruments and negotiable instruments in England and Wales

Financial Services and Markets Act 2000: Key legislation regulating financial services and markets in the UK, including payment authorizations

Payment Services Regulations 2017: UK implementation of EU Payment Services Directive 2, governing payment services and payment institutions

Money Laundering Regulations 2017: Regulations concerning anti-money laundering measures and transfer of funds requirements

Proceeds of Crime Act 2002: Legislation dealing with money laundering and proceeds of crime, relevant for payment authorizations

UK General Data Protection Regulation: Post-Brexit data protection regulation governing the processing of personal data

Data Protection Act 2018: UK's implementation of data protection requirements, complementing UK GDPR

Law of Property (Miscellaneous Provisions) Act 1989: Legislation governing formal requirements for certain types of contracts and legal instruments

Electronic Communications Act 2000: Legislation governing electronic signatures and electronic commerce, relevant for digital authorizations

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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