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) – as indicated on 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). 
•    Originally signed authorization letter by the absentee party, clearly stating the purpose – which is to pick up the collateral documents)
•    Photocopy of two (2) valid government-issued IDs of the absentee party and three (3) original specimen signatures.

Note: If there are multiple Co-Borrower/s, and all are not present to claim the documents, each borrower should affix their original signature on the authorization letter and provide photocopies of their two (2) valid government-issued IDs – with three original specimen signatures.

III.    Released to Authorized representative
•    Originally signed authorization letter by the Principal and Co-Borrower/s, explicitly stating the purpose – which is to pick 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 are located overseas, they must present the original copy of a consularized Special Power of Attorney (SPA) that specifically authorizes their representative to claim the documents.