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 ?
6302-1(f)(1), an employer will not be penalized for a shortfall in the amount of deposited employment tax if such shortfall does not exceed the greater of $100 or two percent of the amount of employment taxes required to be deposited.
This is particularly true if more particles are deposited over them at high temperature.
Since the bug's patent application had already been filed in Washington that day, the couriers rushed the specimen to Rockville, where it was logged in and deposited at 11 p.
Individual income taxes may be voluntarily remitted by EFT, but are not among the taxes required to be deposited in this manner.
CNB prints a copy of each check, which then goes through normal check processing and the funds are deposited into the merchant's account.
6302-IT, issued in 1994, requires taxpayers who deposited amounts in excess of $50,000 of payroll taxes in 1995 to begin to make their tax deposits electronically effective Jan.
Customers simply scan the front and back of each check to be deposited and then send the file over a secure system directly into a Vineyard account.
6302(h) requires that certain taxes be deposited by means of electronic funds transfers (EFTS).