Business Terms and Jargon Explained
What is Deposit
A deposit is an amount of money that you give as part payment for a purchase, which is used to secure the transaction. If the transaction falls through or you decide that you do not want to make the purchase, you forfeit your deposit because you did not complete the transaction and the seller may have lost other buyer and or will have to put it on the market again.
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Term created / updated 2013-06-24 10:00:10
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