What are the complete requirements needed to claim the collateral documents?

Written By Gerard ()

Updated at October 24th, 2023

To ensure a hassle-free collateral pickup process, please make sure to bring all the necessary requirements listed below:

I.    Release to Principal Borrower and Co-Borrower/s (if applicable) – who have signed the loan documents:

All parties must be present and provide their original two (2) valid government IDs.

II.    Release to Principal Borrower or Co-Borrower/s (if one party is absent) 
•    Original two (2) valid government IDs of the Principal Borrower or Co-Borrower (whomever is present). 
•    Original authorization letter signed by the absentee party, explicitly stating the purpose of picking up the collateral documents.  
•    Photocopy of two (2) valid government-issued IDs of the absentee party with three (3) original specimen signatures.

Note: If Co-Borrower/s to the loan are more than one (1) and all are not present in claiming the documents, all of them should affix their original signature on the authorization letter and provide photocopies of their two (2) valid Gov’t issued IDs - with three original specimen signatures.  

III.    Released to Authorized representative
•    Original authorization letter signed by the Principal and Co-Borrower/s, explicitly stating the purpose of picking up the collateral documents
•    Photocopy of two (2) valid government-issued IDs of the Principal and Co-Borrower/s – with three (3) original specimen signatures
•    Original two (2) valid government-issued IDs of the representative

*If the Borrower(s) is/are residing overseas, an original consularized Special Power of Attorney (SPA) must be provided and should explicitly state the authorization for the representative to claim the documents on their behalf.