The Assurance of Support Bank Guarantee is a critical document in the Canadian immigration sponsorship process, designed to protect the government's interests while facilitating family reunification and immigration. This document is typically required when individuals or organizations sponsor immigrants to Canada and need to demonstrate their financial capability to support the newcomers. The guarantee provides the Government of Canada with a secure financial commitment from a recognized Canadian financial institution, ensuring that public funds won't be required for the support of sponsored individuals. The document includes specific terms regarding the guarantee amount, duration, conditions for payment, and claim procedures, all governed by Canadian federal and provincial laws. The guarantee amount is typically held for a specified period, usually matching the sponsorship undertaking period, and can be called upon if the sponsor fails to provide the agreed support.

1. Parties: Identification of the Bank (Guarantor), the Principal (usually the sponsor), and the Beneficiary (typically the Government of Canada)

2. Background: Context of the guarantee, including reference to the immigration application and sponsorship arrangement

3. Definitions: Key terms used throughout the document, including 'Guarantee Amount', 'Guarantee Period', 'Supported Person(s)', and other relevant terms

4. Guarantee: Core provision stating the bank's guarantee and the maximum amount guaranteed

5. Term and Duration: Period of validity for the guarantee, including start date and expiry conditions

6. Conditions for Payment: Circumstances under which the guarantee can be called upon and payment process

7. Bank's Obligations: Detailed description of the bank's responsibilities and commitments under the guarantee

8. Principal's Obligations: Responsibilities and commitments of the principal (sponsor) under the guarantee

9. Claims Process: Procedure for making claims against the guarantee, including required documentation and timeframes

10. Notices: Communication requirements and contact details for all parties

11. Governing Law and Jurisdiction: Specification of Canadian law as governing law and jurisdiction for disputes