Delivery of Cashier's Order is applicable for address located within Malaysia ...
for loan disbursement should be read together with the letter of offer accepted by
me/us;. 2. ... the supporting documents should be in English or Bahasa Malaysia.
OCBC RENOVATION AND REFURBISHMENT (RNR) LOAN DISBURSEMENT AUTHORISATION LETTER (DAL) Attn: Secured Loan Operations OCBC Bank (Malaysia) Berhad
1
Borrower(s) Details
Borrower(s) Name RNR Loan AA No. / Acct No. Address (within Malaysia only) Contact Number Important Note: Where applicable, please provide the address and contact number for delivery of the Cashier’s Order to the Borrower(s). Delivery of Cashier’s Order is applicable for address located within Malaysia only and does not include overseas.
2
Disbursement Details
2.1 Personal Contingencies (where applicable)_ 2.1a: Please select your preferred payment mode for the Personal Contingencies. (Please tick √ one only) Option 1: Cashier’s Order delivered to the Borrower(s)’ address above. Option 2: Direct credit into 1st party(ies) OCBC Current/ Savings Account below Account Holder Name(s) : Account Number : Renovation & Refurbishment Portion (where applicable)
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2.2 Renovation & Refurbishment (where applicable)_ 2.2a: Please tick √ one only My home renovation involves structural renovation and / or extension to the property. Enclosed is a copy of the approved renovation plan by the local municipal council/relevant authorities. My home renovation does not involve any structural renovation and / or extension to the property. Therefore, the approved renovation plan by the local municipal council/relevant authorities is not required. 2.2b: Fill in the details below and enclose the required supporting documents where applicable Contractor’s/Vendor’s full name as per Invoice (for purpose of issuance of Cashier’s Order)
Invoice Amount
1.
RM
2.
RM
3.
RM
4.
RM
5.
RM Total Payable Amount
RM
Important Notes: i. Maximum no. of contractors/vendors allowed for each RNR Loan is five (5). ii. Minimum amount for each Cashier’s Order is RM 5,000. iii. Please enclose the following supporting documents where applicable: • Copy of invoice / purchase order / sales order / order form or any other equivalent document • Approved renovation plan by the local municipal council / relevant authorities (applicable to landed properties only and for structural renovation and/or extension to the property). RNR DAL 2.1_Aug 2013
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Terms & Conditions
I/We agree and declare that, 1. The conditions for loan disbursement should be read together with the letter of offer accepted by me/us; 2.
The Facilities will be disbursed by way of Cashier’s Order. The loan for Personal Contingencies will be released under borrower(s)’ name, while loan for Renovation & Refurbishment will be released under contractor’s/vendor’s name;
3.
For cases where fund for personal contingencies is supposed to be credited into my/our first party’s Current or Savings accounts (CASA), and the CASA is dormant or belongs to a third party, the Bank reserves the right to disburse the fund by way of Cashier’s Order;
4.
The Bank shall not be liable for any delay in the disbursement of the amount to me/us if the crediting of the fund has failed due to my/our savings or current account being dormant or closed;
5.
The loan for Renovation & Refurbishment disbursed is for the property financed by and charged to the Bank;
6.
The contractors appointed by me/us must be established for minimum one (1) year;
7.
I/We am/are not director(s) or shareholder(s) of the contractors/vendors engaged for the renovation & refurbishment works;
8.
I have made my own enquiries and understand that in the event the renovation involves structural renovation and / or extension to the property, I/we must obtain approval from the local municipal council or the relevant authorities in relation to the renovation works including without limitation, the approvals for the drawings, designs, specifications, materials and layout plans. Whenever such approvals are required, I declare that I have obtained or will obtain the approvals;
9.
I/We agree to provide a copy of the following documents (originals must be sighted by the attending Bank officer) to facilitate disbursement of loan for Renovation & Refurbishment : a. Invoice / Purchase Order / Sales Order / Order Form or any other equivalent document; and b. Approved renovation plans by the local municipal council/relevant authorities (applicable to landed properties only and for structural renovation and/or extension to the property).
10. The Bank reserves the right to request for additional documents for loan disbursement; 11. The Bank reserves the right to refuse disbursement if there is any discrepancy found in this Disbursement Authorisation Letter or the supporting documents provided by me/us; st 12. On the receipt of this form by the Bank’s Loan Operations Unit, 12 working days (for 1 disbursement) and 8 working days (for subsequent disbursement) are required for my/our authorization/instruction to be processed. An incomplete form or non-compliance to the terms and conditions may delay the processing;
13. The cumulative amount requested for loan disbursement shall not exceed the total approved amount stated in Letter of Offer. In the event that it exceeds the total loan approved amount, the Bank will reduce the amount of any of the Cashier’s Orders as the Bank deems fit; 14. For speedy processing of the payments, the supporting documents should be in English or Bahasa Malaysia. The Bank reserves the right to reject the documents if rendered in any other language. 15. Any deviation from the Terms & Conditions is subject to the Bank’s approval at the Bank’s sole discretion. By signing and submitting this Disbursement Authorisation Letter, I/We are: i.
confirming my/our acceptance of the terms and conditions set out in the Bank’s Letter of Offer and the Bank’s Terms and Conditions governing the RNR Loan and;
ii.
hereby irrevocably instructing the Bank to disburse the RNR Loan and shall fully and completely indemnify the Bank against any losses, costs, charges, liabilities, claims, demands, actions, proceedings or expenses (including reasonable legal costs and expenses) which the Bank, its officers, employees and/or agents may sustain or incur in connection with this Disbursement Authorisation Letter.
Yours sincerely, --------------------------------------------------------1-(Borrower’s signature)
--------------------------------------------------------2-(Borrower’s signature)
--------------------------------------------------------3-(Borrower’s signature)
Name: Date:
Name: Date:
Name: Date:
For Bank use only Attended by (PFC/ RM/ Officer/ Branch): _________________________ (Attending Bank Officer Signature) Name : Contact No : Date
:
Notes for Attending Bank Officer: i) For loan account with joint borrowers, one signature from any of the borrowers is sufficient. ii) To perform Identity Verification. iii) To sight original copies of all supporting documents and make note to that effect on the photocopies. iv) To sign and fill in your name, contact no. & the date in the “Attended by…” section on the left.
Remarks:__________________________________________________________________________________________________________
RNR DAL 2.1_Aug 2013
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