Definitions for "good faith deposit"
A deposit paid by a buyer to a seller to demonstrate intention to complete the purchase. also called earnest money.
A sum of money or surety bond provided to an issuer of a new issue of municipal securities by an underwriter or underwriting syndicate as an assurance of performance on its offer to purchase the issue.  Good faith deposits generally are required in connection with competitive sales and sometimes in connection with negotiated sales.
see Earnest Money Deposit.