deposit


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Deposit

1. An amount of money held at a financial institution on behalf of an account holder for safekeeping. For example, one may keep a deposit in one's checking account to pay for daily expenses instead of hiding one's money "under the mattress." Many deposits are insured by organizations like the FDIC to reduce their risk.

2. See: Earnest Money.

deposit

Money paid to ensure performance under a written or oral contract.Many states require that lease and other such deposits be maintained in escrow accounts and earn interest which must be paid to the party when the deposit is refunded.All real estate brokers must place earnest money deposits in escrow accounts. One must carefully examine the particular contract language relative to deposits in order to determine the circumstances under which they may be withheld from the depositor.

References in periodicals archive ?
Definitely demand deposit of rent, and if it is denied, don't just sit back and accept it," says R.
Because the SAIF's deposit insurance premiums are so much higher than the BIF's, the SAIF will not be able to compete," said Joy.
Now that the biggest banking crisis since the Great Depression is over, the question in some people's minds is how to reform the system of federal deposit insurance that grew out of the first major banking debacle of this century and was a contributing cause of the second.
Citibank argued that foreign deposits were exempt from federal deposit insurance assessments and they should not be required to pay.
On behalf of Tax Executives Institute, I am writing to commend the Department of the Treasury and the Internal Revenue Service for the substantial improvements made in the final payroll tax deposit regulations, which were issued on September 22.
Several years ago, the brokered CD rates might have been considered a crude indicator of potential value of at least some of the financial instruments represented by deposit and core repurchase agreements.
Examination of hundreds of cases of deposit buildup in induction furnaces has shown that the deposits are composed of fine-grained particles.
Drilling for gold in a geological structure east of Red Lake has resulted in the discovery of an entirely different, yet valuable, mineral deposit.
Despite the stakes, villainless themes like "the risks of deposit insurance in a modern bnaking system" won't inspire press coverage, either.
Asset, deposit, and ranking data are as of June 30, 2004.
In addition, the client can cancel the deposit at any time without losing all his profit, or paying any cancellation fees.