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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.
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.
The individual retirement account (IRA) and the certificate of deposit (CD) are both tools for saving, but there are key differences between the two. An IRA is a retirement investing account that ...
A certificate of deposit (CD) is a low-risk deposit account that earns a fixed rate of return. In exchange for this guaranteed yield, you agree to lock up your money until the CD’s term expires.
A security deposit is a sum of money held in trust. [ 1 ] In leasing, security deposits, also known as "rent deposits", [ 2 ] are required most often by lessors of automobiles , residential property, and commercial real estate .
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 ...