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Fund Confirmation Letter for Singapore

Fund Confirmation Letter Template for Singapore

A Fund Confirmation Letter is a formal document issued by a Singapore-based financial institution that verifies the existence and availability of specified funds in a customer's account. Under Singapore's banking regulations and MAS guidelines, this document serves as an official verification of funds, commonly used for business transactions, regulatory compliance, and third-party verification purposes. The letter carries legal weight under Singapore's Banking Act and must comply with local financial regulations.

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What is a Fund Confirmation Letter?

A Fund Confirmation Letter is a crucial financial document used when formal verification of funds is required for business transactions, regulatory compliance, or third-party requirements. Governed by Singapore's banking regulations and MAS guidelines, this document provides official confirmation of available funds in a specified account. The letter typically includes details such as the account holder's information, account number, confirmed amount, and verification date. It serves multiple purposes, including property transactions, investment verification, visa applications, and business dealings, while maintaining compliance with Singapore's strict banking and privacy regulations.

What sections should be included in a Fund Confirmation Letter?

1. Bank Details: Full name, address, and regulatory details of the issuing bank

2. Account Holder Information: Complete details of the account holder including name, address, and identification

3. Account Details: Account number, type, and relevant banking details

4. Fund Confirmation: Specific amount being confirmed, currency, and date of verification

5. Purpose Statement: Stated purpose for which the fund confirmation is being issued

6. Authorized Signatory: Bank officer's signature, name, and designation

What sections are optional to include in a Fund Confirmation Letter?

1. Fund Availability Period: Optional section specifying the duration for which the confirmation remains valid

2. Additional Account Information: Optional section for account status, history, or standing when specifically requested

3. Beneficiary Information: Optional section for details of the intended recipient when confirmation is addressed to a specific third party

What schedules should be included in a Fund Confirmation Letter?

1. Account Statement: Recent account statement showing the confirmed balance

2. Authorization Letter: Letter from account holder authorizing the bank to release information

3. Supporting Documents: Any additional documentation required to support the fund confirmation

Authors

Alex Denne

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

Jurisdiction

Singapore

Publisher

Ƶ

Document Type

Confirmation Letter

Sector

Sales

Cost

Free to use
Relevant legal definitions



















Clauses















Industries

Banking Act (Cap. 19): Primary legislation governing banking institutions and financial services in Singapore, providing regulatory framework for fund-related activities and confirmations

Securities and Futures Act (Cap. 289): Regulates securities, futures, and financial markets in Singapore, relevant for fund-related transactions and confirmations

Companies Act (Cap. 50): Primary legislation governing corporate entities in Singapore, relevant for verifying corporate authority and signatures

Singapore Contract Law: Common law principles governing formation and enforcement of contracts in Singapore, essential for the legal validity of the confirmation letter

MAS Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore providing specific requirements for financial institutions

MAS Notice 610: Specific notice regarding submission of statistics and returns, relevant for reporting and documentation requirements

AML/CFT Regulations: Anti-Money Laundering and Countering the Financing of Terrorism regulations ensuring compliance with financial security measures

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data in Singapore

Currency Act: Legislation governing currency-related matters in Singapore, relevant for fund denominations and currency specifications

Electronic Transactions Act: Legislation providing legal framework for electronic transactions and digital signatures in Singapore

SWIFT Standards: International banking communication protocols and standards for financial messaging and fund transfers

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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