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Financial Guarantee Statement 2012-2013 - John Carroll University

Financial Guarantee Statement 2012-2013 - John Carroll University-2025

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The document is a Financial Guarantee Statement required for U.S. non-immigrants applying to John Carroll University. It outlines the financial support needed, which is a minimum of $6000 per semester, and specifies acceptable forms of documentation, including original bank certifications. The applicant must provide personal savings or sponsorship details, and multiple funding sources can be listed. The document emphasizes the importance of accuracy and warns that falsification may lead to disqualification from admission.

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What is a financial guarantee document?

A financial guarantee contract (FGC) is a contractual promise made by an entity (e.g. a bank, insurance company, a parent entity) to guarantee payment of a debt obligation by another entity.

What is an example of a financial guarantee?

A common example of a financial guarantee contract is a parent company providing a guarantee over its subsidiarys borrowings. Because these contracts transfer significant insurance risk, they typically meet the definition of an insurance contract.

What is a letter of guarantee on a financial statement?

A letter of guarantee is an agreement by a bank (the guarantor) to pay a set amount of money to some person (the beneficiary) if a bank customer (the principal) defaults on a payment or an obligation to the beneficiary. Letters of guarantee arent transferable.

How do I get a financial guarantee?

To request a guarantee, the account holder contacts the bank and fills out an application that identifies the amount of and reasons for the guarantee. Typical applications stipulate a specific period of time for which the guarantee should be valid, any special conditions for payment and details about the beneficiary.

What is a financial guarantee statement?

A financial guarantee is an agreement that guarantees a debt will be repaid to a lender by another party if the borrower defaults. Essentially, a third party acting as a guarantor promises to assume responsibility for a debt should the borrower be unable to keep up on its payments to the creditor.

Financial Guarantee Statement 2012-2013 - John Carroll University-2025

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