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A deposit-refund system (DRS), also known as deposit-return system, advance deposit fee or deposit-return scheme, is a surcharge on a product when purchased and a rebate when it is returned. A well-known example is when container deposit legislation mandates that a refund is given when reusable packaging is returned.
Container-deposit legislation (also known as a container-deposit scheme, deposit-refund system or scheme, deposit-return system, or bottle bill) is any law that requires the collection of a monetary deposit on beverage containers (refillable or non-refillable) at the point of sale and/or the payment of refund value to the consumers. When the ...
In 2017, A Flint man was arrested for buying cans from Indiana to redeem in Michigan, defrauding the system out of more than $1k. [67] In 2023, a Los Angeles ring was arrested in a bust worth more than $4.3 million. [68] In 2007, 13 out of 15 people in a Detroit ring were arrested in a bust called "Operation Can Scam" worth more than $500k. [69]
In accounting, a down payment (also called a deposit in British English) is an initial up-front partial payment for the purchase of expensive goods or services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction .
The two young women who showed up with checks to rent the third-floor apartment in our building seemed nice. My husband, who is the caretaker of several apartments his family owns, took their ...
Image credits: Genie_noteC #5. I cut open all my product containers and use every last drop. It's more about not wasting stuff, but it's also frugal. You would be surprised how much product can be ...
A brokered CD is a certificate of deposit you buy through a brokerage firm, instead of from a bank or credit union. Like traditional CDs, you choose a term length that comes with a set interest rate.
For example, in the European Union the Consumer Rights Directive of 2011 obliges member states to give purchasers the right to return goods or cancel services purchased from a business away from a normal commercial premises, such as online, mail order, or door-to-door, with limited exceptions, within two weeks or one year if the seller did not ...