Affidavit of Financial Responsibility: Meaning, Purpose, and Sample Form
An Affidavit of Financial Responsibility is a sworn statement in which an individual formally declares that they are financially capable and willing to support another person, project, event, or obligation. This affidavit is commonly used for school requirements, visa applications, loan processing, employment documentation, and legal or administrative procedures requiring proof of financial capacity.
The document assures institutions that the affiant has sufficient financial resources to fulfill a responsibility such as supporting a family member, funding studies, paying medical expenses, covering damages, or maintaining a contractual obligation. Since this document is sworn under oath, all statements must be truthful and verifiable.
When Is an Affidavit of Financial Responsibility Needed?
This affidavit may be required in various personal, legal, or administrative cases, including:
- School enrollment or scholarship requirements.
- Student visa applications or travel sponsorship.
- Medical assistance or hospitalization commitments.
- Supporting a dependent or minor child.
- Loan or financial program applications.
- Court-related responsibilities requiring proof of financial capability.
- Guaranteeing payment for damages, obligations, or agreements.
Institutions may request supporting documents such as bank statements, payslips, tax records, identification cards, or certificates of employment.
What Should Be Included in an Affidavit of Financial Responsibility?
A complete affidavit should include the following details:
- Affiant’s full name, age, citizenship, and address.
- Statement of employment or source of income.
- Details of the financial responsibility or obligation.
- Name of the person or entity being supported.
- Amount or nature of the support being guaranteed.
- Declaration of financial capability.
- Purpose of the affidavit.
- Affiant’s signature and notarization block.
Additional attachments may be requested depending on the institution’s requirements.
Sample Affidavit of Financial Responsibility (Editable Template)
Below is a professional and editable template. Replace all bracketed fields with accurate information before printing and notarization.
REPUBLIC OF THE PHILIPPINES
[CITY / MUNICIPALITY]
[PROVINCE]
AFFIDAVIT OF FINANCIAL RESPONSIBILITY
I, [FULL NAME OF AFFIANT], of legal age, [citizenship], [civil status], and residing at [complete address], after being duly sworn in accordance with law, hereby depose and state:
1. That I am currently employed as [position] at [company or employer], earning a monthly income of [amount], or have sufficient financial resources from [additional source of income, if any].
2. That I am fully capable and willing to assume financial responsibility for [name of person supported or purpose of support].
3. That this financial responsibility includes but is not limited to: [school fees, visa requirements, living expenses, medical costs, program fees, damages, etc.].
4. That I am executing this Affidavit to comply with the requirements of [school/embassy/company/court/agency] and to affirm my capability to fulfill the said financial obligation.
5. That I undertake to continue providing support or fulfilling financial obligations as stated, for as long as required by circumstances or until the completion of the related process.
IN WITNESS WHEREOF, I have hereunto set my hand this [day] day of [month, year] at [place of execution].
_________________________________
[FULL NAME OF AFFIANT]
Affiant
SUBSCRIBED AND SWORN to before me this [day] day of [month, year] at [place], the affiant exhibiting to me his/her valid government-issued ID:
ID Type and No.: [ID type and number]
Date & Place of Issuance: [details]
_________________________________
NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.
Disclaimer: This template is for informational and educational purposes only. Requirements may vary depending on institutions or jurisdictions. For legal advice, consult a licensed lawyer.