What is a Deposit?
A deposit serves as a security for good faith to a commitment for an agreement and/or purchase. When purchasing an item like a car, it holds the item to prevent it from being sold to someone else. For rentals, a deposit is held until the lease ends and is refunded if there is no property damage.
Examples of Types of Deposits
- Car (Vehicle) Downpayment
- Cat (Kitten) Deposit
- Boat Deposit
- Dog (Puppy) Deposit
- Earnest Money Deposit
- Key Deposit
- Photography Deposit
- Real Estate Down Payment
- Security Deposit (Tenant)
- Car (Vehicle) Purchase Deposit