Jul 20, 2018 Last Updated 9:17 AM, Jul 16, 2018

The Minister of Finance & the Public Service

The Hon. Nigel Clarke, DPhil., MP...

Minister without Portfolio in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister without Portfolio in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and h...

Financial Secretary (Acting)

Miss Darlene Morrison...

What is the bonding period associated with benefiting from a tuition refund?

The following is an Extract from GOJ Bonding Policy | Section 5.2 - Bonding Ranges and Period which applies to Public Sector Employees. It is noted however, that some entities overtime developed retrofitted internal bonding arrangements.

Refund Amount  Bond Period Required # of Guarantors 
 Below $300,000.00  No bond None 
 $300,000.00 - $499, 999.00  2 years' service  1
 $500,000.00 - $999,999.00  3 years' service  2
$1,000,000.00 - $1,999,999.00 4 years' service 3
$2,000,000.00 and over 5 years' service 3

There is also a requirement for applicants to acquire Guarantor(s).  Depending on the sum to be refunded the applicant will need guarantor(s) to also sign the bond agreement.

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