Security deposit

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Security deposit (initial)

Synonymous with the term margin. A cash amount that must be deposited with the broker for each contract as a guarantee of fulfillment of the futures contract. It is not considered as part payment or purchase. Related: Margin.

Security deposit (maintenance)

Security Deposit

1. See: Maintenance Margin.

2. An amount that a lessor, lender, seller or provider of a service requires up front to compensate for the risk that he will not receive payment or the agreement will be violated. For example, a landlord may require one month's rent as a security deposit just in case a tenant knocks a hole in the wall and leaves the landlord to pay for it. Generally speaking, if the agreement is followed, the one who pays the security deposit receives the money back. See also: Earnest Money.

security deposit

Money required to be paid to a landlord or to service providers in order to protect them against possible default.The law varies from state to state regarding the following questions: Must the deposit be kept in a separate account from the operating account? Must it earn interest? May it be used to pay for damage to the property,or just default in the payment of rent? How much money can a landlord require? How soon does it have to be refunded? Most states maintain excellent Web sites with information about consumer protection laws, including landlord-tenant law and the requirements related to security deposits.

References in periodicals archive ?
Summary: Dewa customer asked to top up security deposit by Dh15,000; authority says it is a multi-family accommodation
First of all, a landlord cannot make any deductions from a security deposit for damages resulting from normal wear and tear of the premises.
5 States with Lowest Security Deposits for Conditionally Approved Apartment Residents OK $411 MI $411 NM $391 IA $386 AK $341 5 States with Highest Security Deposits for Conditionally Approved Apartment Residents NJ $1,280 CT $1,364 NY $1,645 MA $1,719 CA $1,891 Source: Neighborhood Pay Services Note: Table made from bar graph.
The security deposits were supposed to be held in trust in the tenant's name.
Though Dewa did not specify the revised figures for the security deposits, it updated the information on its website, which was not done until it was reported by this paper.
Though the security deposit is not a handsome amount but in Pakistan politics, one whose security is confiscated is considered to have been defeated badly.
The property manager would--should--then respond that the security deposit is owned by the tenant unless there is an agreement otherwise.
Part of the security deposit was invested in National Savings Certificates (NSC), Kisan Vikas Patras (KVP) and Post Office Time Deposits (POTD).
Many such guaranties do require compliance with certain specified performance obligations such as restoration of the security deposit, restoration of unusual improvements (such as a vault or interior staircase) and removal of all personal property from the premises.
7(c) limits the application of a security deposit to retrospective damages, which include "those amounts as are necessary to remedy tenant defaults in the payment of rent, to repair damages to the premises caused by the tenant, or to clean the premises upon termination of the tenancy, if the payment or deposit is made for any or all of those specific purposes.
There's no such thing as a "nonrefundable" security deposit.
With more than one million units in nearly 3,300 communities under agreement, SureDeposit is the nation's leading provider of alternatives to traditional security deposits.

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