Guarantees that the purchaser will pay the full deposit by the due date. Institutions which provide deposit bonds act as a guarantor payment will be made.
A gaurantee made by a financial institution that in the event the purchaser defaults from the Contrat the financial institution guarantees to pay the 10% deposi owed to the Vendor.t
a guarantee of payment of the deposit to the vendor if the purchaser defaults
a guarantee that the deposit will be paid at a future date
a guarantee, usually issued by an insurance company, which can be used by a purchaser instead of paying a deposit on the exchange of contracts for the sale of land
an instrument that, by agreement with the vendor, can replace the need for a cash deposit
A guarantee that a buyer will pay a deposit in full by a pre-determined date.
A deposit Bond is a financial guarantee issued by an insurance company in the form of a bond, on behalf of a purchaser. This allows a deposit to be paid without disturbing invested funds, and can be cheaper than doing so, especially if buying "off the plan" where settlement is considerably delayed.
A guarantee that can be used instead of having to provide a cheque for a 10 per cent deposit while waiting to settle on a property.
a tool used to facilitate the exchanging of contracts. Instead of providing a 10% deposit which sits in a "trust" account during the settlement period, the purchaser takes out a deposit bond. It is like an insurance policy. It allows insurance for the vendor, that if you don"t complete the purchaser, they will still receive their 10%.