Affidavit of Financial Responsibility: Meaning, Purpose, and Sample Form
An Affidavit of Financial Responsibility is a sworn legal document executed by an individual who formally declares their obligation to assume financial responsibility for another person, transaction, activity, or expense. This affidavit is commonly required by schools, hospitals, courts, government agencies, employers, and private institutions to ensure that all financial obligations will be properly covered.
Unlike general support affidavits, this document specifically emphasizes accountability for payments, fees, debts, damages, or expenses that may arise. By signing this affidavit, the affiant accepts legal responsibility and may be held liable if the stated obligations are not fulfilled.
When Is an Affidavit of Financial Responsibility Required?
This affidavit is commonly required in the following situations:
- School enrollment, tuition, or educational programs
- Medical treatment, hospitalization, or health services
- Court proceedings involving dependents or liabilities
- Employment-related financial undertakings
- Travel, visa, or sponsorship requirements
- Rental agreements, damages, or service obligations
- Any situation requiring proof of financial accountability
Supporting documents such as proof of income, employment certificates, billing statements, or identification cards may be required by the requesting institution.
What Should Be Included in an Affidavit of Financial Responsibility?
A properly prepared affidavit should include:
- Complete personal details of the affiant
- Name of the person or entity being supported or covered
- Clear statement of financial responsibility
- Scope and nature of the expenses or obligations
- Duration or validity of the responsibility
- Purpose of executing the affidavit
- Affiant’s signature and notarization
Since this affidavit carries legal consequences, all declarations must be accurate and made in good faith.
Sample Affidavit of Financial Responsibility (Editable Template)
Replace all bracketed fields below with the correct 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 having been duly sworn in accordance with law, hereby declare and state:
1. That I hereby accept full financial responsibility for [FULL NAME OF PERSON / DESCRIPTION OF OBLIGATION].
2. That I agree to shoulder all expenses, costs, fees, liabilities, and financial obligations arising from or related to [state purpose or activity].
3. That I am financially capable of fulfilling the said obligations and understand that failure to do so may result in legal consequences.
4. That this financial responsibility shall take effect on [date] and shall remain valid until [state duration or “until obligations are fully settled”].
5. That I am executing this Affidavit of Financial Responsibility to attest to the truthfulness of the foregoing statements and to comply with the requirements of [school / hospital / employer / court / government agency / institution].
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 presenting the following competent proof of identity:
ID Type and Number: [ID Number]
Date & Place of Issuance: [details]
_________________________________
NOTARY PUBLIC
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of _____.
Disclaimer: This template is for general informational purposes only. Some institutions may require additional documentation or specific wording.