If you give a bank guarantee you should be ready to put money in the bank to cover it's value.
How much the guarantee is for depends on:
- if the assurer is a person or an organisation
- if there are 1 or 2 adult assurees
- if the assurance of support is for 2 years or 10 years
From a person
For 2 years
- $5,000 for 1 adult
- $7,000 for 2 adults
For 10 years
- $10,000 for 1 adult
- $14,000 for 2 adults
If the assurer is an organisation, it must guarantee:
- $10,000 for 1 or 2 adults for 2 years
- $20,000 for 1 or 2 adults for 10 years
Bank guarantee release
You can ask us to release your bank guarantee.
You can ask us when the assurance of support period ends. We can’t release it until the end of this period.
- Fill in the Assurance of Support Bank Guarantee Release form.
- Submit it to us online, by post or at a service centre. The details are on the form.