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Redraw Authority Nomination Terms & Conditions Police & Nurses Limited ABN 69 087 651 876 ADSL 240701 Australian Credit License 240701 Level 6, 556 Wellington Street, Perth WA 6000 | PO Box 8609,
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Redraw authority terms refer to the conditions and stipulations set by a lender that allow borrowers to withdraw funds from their loan account, provided they have made extra repayments.
Typically, borrowers who wish to access the redraw facility of their loan are required to file redraw authority terms with their lender.
To fill out redraw authority terms, borrowers must provide their personal information, loan account details, and specify the amount they wish to redraw, along with any required signatures as mandated by the lender.
The purpose of redraw authority terms is to clearly outline the conditions under which borrowers can access additional funds from their loan, ensuring both parties understand the terms of the redraw facility.
The information that must be reported includes borrower details, loan account number, amount requested for redraw, and any relevant terms and conditions that apply to the redraw.
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