Letter of Authority (LOA) is an official document that empowers the banks to verify the validity of the documents that the borrower has submitted, such as:
Residence Checking
Employment Checking
Business Verification
Trade Checking
‼️ Note: Other verification details may be required by the bank. Different banks also have have their own template. Ensure that the form you are using is the latest copy from the bank.
For the purpose of this example, this is a copy of BDO's LOA form.