What is Letter Of Authority?
“Letters of Authority” refer to a document issued by the master of the high court regarding the appointment of a competent person to handle certain matters.
Trust assets are controlled by trustees who need to take their fiduciary responsibilities seriously in terms of the law.
How Much Is Letter Of Authority In south Africa?
Applications will only be considered once a non–refundable LOA fee of R 1800.00 has been received by NRCS.
How do I get a letter of authority in South Africa?
Download the application for the relevant letter of authority form or obtain it from the National Regulator for Compulsory Specifications (NRCS).
Complete the form and send it to the NRCS with the required documents as listed on the form.
Pay the required fee.
How long does it take to get letter of authority in South Africa?
The document is obtained from the Office of the Master of the High Court of a Magistrates court and can take up to 120 days to be issued.
What should a letter of authority include?
Include the complete name, address and contact details of both you, and your broker.
Be clear and concise with the information that you provide, since this can be used as legal evidence in the future.
Is a letter of authority a legal document?
A Letter of Authority (LOA) is a legal document that authorises a third party to correspond with service providers on behalf of you and your business.
The LOA outlines and stipulates the tasks that the third party can handle and are used in many UK industries.
Can I cancel a letter of authority?
To cancel a letter of authority, you need to issue a fresh letter stating that the letter of authority stands cancelled.
“Also, the revocation of the letter of authority should be intimated to the persons dealing with the person carrying the letter of authority.