What is the wording for a non-refundable deposit? (2024)

What is the wording for a non-refundable deposit?

Buyer shall pay a non-refundable deposit to Seller in the amount of $_________ within_____ (3 days if not filled in) days of mutual acceptance of this Agreement. If this transaction fails to close for any reason other than default by Seller, the nonrefundable deposit shall remain the property of the Seller.

How do you write a non refundable deposit clause?

Buyer shall pay a non-refundable deposit to Seller in the amount of $ within (3 days if not filled-in) days of mutual acceptance of this Agreement. The non-refundable deposit shall be applicable towards the Purchase Price.

How do you say non refundable deposit?

All you need to say is “as per the quote, it is noted deposits are non refundable.” That is all.

How do you tell a client their deposit is nonrefundable?

You can say, "Here's what we agreed to. You'll see that the deposit is non-refundable." Sleep on it. Don't ever make decisions at the height of emotion or under stress.

How do I write a non refundable deposit receipt?

How do you explain non refundable?

Meaning of non-refundable in English

used to describe money that you pay that you cannot get back: non-refundable deposit/fee/down-payment At this point, the purchaser will have to pay a 10% non-refundable cash deposit to the auctioneer.

What is an example of a deposit clause?

Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by traveler's checks, bank money order, wire transfer, or certified check or major credit card. Personal checks will be accepted upon approval; if funds are not credited within Ten days booking will be cancelled.

What is a word for non refundable?

Synonyms for Non-refundable

adj. no refund. non redeemable. non returnable. non-admissible.

How do you write a deposit agreement?

Are non refundable deposits a liability?

Deposits (whether refundable or non-refundable) and early or pre-payments should not be recognized as revenue until the revenue-producing event has occurred. The cash given to the unit is a liability because it represents an obligation the unit has to provide the good or service (and justify receiving the cash).

Why are deposits nonrefundable?

Non-refundable deposits are intended to protect a business in circ*mstances of sudden cancellation and to compensate the business for the time, effort and money expended up to that point.

What do you write on a deposit receipt?

What is the difference between a non refundable deposit and a retainer?

This term “deposit” is rooted in landlord-tenant law, but has since become commonplace in everyday American life to mean a pre-payment for something. A “retainer,” on the other hand, is defined as a fee paid in advance to hold a service and is typically non-refundable.

How do you use non refundable in a sentence?

Examples of nonrefundable in a Sentence

The tickets are nonrefundable unless the show is canceled.

What is a non refundable clause?

Summary. A no refund policy informs your customers that all sales are final, and they shouldn't expect a monetary refund or replacement item even if they're unsatisfied with their purchase.

How do I write a refund policy for services?

What is a short sentence for deposit?

Examples of deposit in a Sentence

Verb Your paycheck will be automatically deposited into your account. I deposited over $3,000 this afternoon. Please deposit your things in your room and return to the hotel lobby.

What is a deposit clause?

A deposit use clause is a section of the tenancy agreement that explains how the deposit can be used. It outlines the circ*mstances under which the deposit can be kept, such as rent arrears, damages to the property, or other expenses related to the tenant's breach of the agreement.

What is the minimum and deposit clause?

Minimum and deposit premium is a premium that is fully earned by the insurer at the inception of the policy and is nonrefundable if the policy is canceled.

Is non refundable one word?

nonrefundable in British English

(ˌnɒnrɪˈfʌndəbəl ) adjective. not able to be refunded.

What is the document for deposit?

A deposit slip is a small paper form that a bank customer includes when depositing funds into a bank account. A deposit slip states the date, the name of the depositor, the depositor's account number, and the amounts being deposited.

How do I write a deposit demand letter?

What is a direct deposit agreement form?

What is a Direct Deposit Authorization Form? Direct deposit authorization forms authorize employers to send money directly into an individual's bank account. In times past, employers would print out and distribute physical checks on pay day for each employee to deposit into their bank accounts themselves.

How do I ask for a deposit refund?

The important things to remember while writing a refund application letter are to mention the office address, attach the payment receipt and your bank or UPI details for them to process the refund.

What is non deposit liabilities?

Non-deposit liabilities of banks refer to the obligations or sources of funding for banks that do not stem from traditional customer deposits (Demirgüç-Kunt et al., 2015).