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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 .
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.
Often, the contract is structured in two parts, one representing the lease term and the other a contract of sale. As is usually stated in the lease purchase contract, the option fee and accrued rent credit are both non-refundable should the tenant/buyer decide to walk at the end of the lease.
Most renters expect a refund on their security deposit when they move out of their apartment (save for those who have completely trashed the place). But a hefty percentage of renters aren't ...
Buying your first home is an exciting venture, but it can also be complicated. Many first-time homeowners end up overlooking some important purchases that would have made their lives easier down ...
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 ...
Jeonse involves the tenant giving the landlord a large sum of "key money" when a lease is signed. The amount of money required depends on the economy and the location of the property. Usually, the amount required is 50% of the property's value but can be as high as 60-80%.
A certificate of deposit — or CD — is a type of deposit or savings account that allows you to grow your savings at higher rates of return than a traditional savings account.