Advance credit (for rents): This is a document that provides proof of the cash deposit to the landlord or lender by a tenant as proof of the intention to withdraw and maintain the property. Depending on the terms and conditions, the bonds may be refunded or not repaid. Cash bank deposit: This is a document issued by the bank to the customer as proof of payment of a cash deposit or cheques to the bank. This document consists of the account on which the money was deposited, the date and time of the deposit, the amount deposited and the name of the depositor. Prepayment (for the purchase of anything): This is a receipt that confirms the payment made in advance by the buyer to the seller. This document consists of the seller`s details, the buyer`s details, the amount paid and the item paid. Below is an example of a surety clause in a rental agreement. These clauses can range from a few sentences to a few paragraphs. Once an agreement has been reached and signed, a deposit is made. Once the payment is made, the payer should be provided with a deposit receipt, particularly for cash payments proving that the funds were successfully delivered. Most agreements have a period of between one (1) and five (5) working days until the filing is made or the agreement is cancelled. The payer is required to meet his obligations related to the bond. Whether it is the purchase of a product, a service or a rental property, the payer`s obligations must be fulfilled or the down payment is most likely non-refundable.
Each lease agreement should contain a surety clause. While each owner has the option to customize this clause, the state in which your rental property is located may have certain deposit laws that you must comply with. Regardless of your government laws, there are certain bases on the terms of the bond that you should always include in your agreement. Below is an example. Bank name: If the deposit was made with a bank. The receipt should normally have the name of the bank above. Download this template in the file version you want to use using the links or buttons on this page.