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An amount of money paid to indicate good faith in a transaction before the transaction is completed.

Earnest Money

A small amount of money that a seller requires a potential buyer to deposit before a transaction is completed. Earnest money ensures that the potential buyer is serious about the transaction and will be likely to complete it when the time comes. If the buyer subsequently withdraws from the deal, he/she usually forfeits the earnest money. It is common in real estate and securities (where it is usually called a good faith deposit). Earnest money reduces the risk to the seller. It is also called a binder.


(1) Money given as earnest money for an oral contract to purchase real estate, to bind the parties until such time as they can complete the necessary written contract. (2) A written instrument giving immediate casualty coverage for property, even though the insured may not have paid a premium or received a policy.(3) A temporary contract of title insurance in which the insurer agrees to issue a final policy if certain exceptions, such as prior mortgage liens, are removed at or before closing.

References in periodicals archive ?
The National Infrastructure Department (Dnit) issued normative rulings for asphalt rubber in 2009 (Departamento Nacional de Infraestrutura de Transportes [Dnit], 2009a and b) and for modified polymer binders in 2011 (Departamento Nacional de Infraestrutura de Transportes [Dnit], 2011).
Solteras CCS binders comprise a two-component coating system that is compatible with typical coating processes, and results in good lithium ion permeability while minimizing negative effects on cell electrochemistry (cycling or rate study).
Most shapewear is made out of the same material as a lot of binders.
Used in premium 100% acrylic exterior paint, this binder offers a performance profile that is very similar to exterior flat binders with higher solvent loads and surpasses other low-VOC binder technologies with regard to durability.
Hans Gorlitzer, who works in the Coatings and Additives Business Unit at Evonik as head of business development in the Crosslinkers Business Line, believes the new technology has even more potential: "We aim to open up access to silane-modified binders for other applications too.
Beneficial property of bituminous binders modified with elastomeric polymers above traditional binders is the increase of elasticity not related to the stiffness, but highly connected to the phase angle (D'Angelo 2010; Slowik 2012).
The function of the breast binder is to relieve tension on postoperative wounds after mastectomy.
RTR binders have been used to provide this same type of improved performance.
Disclosures: GemTech Medical provided the binders used in the study.
Use of a softer virgin binder grade (PG58-28) typically reduced the stiffness of the mixes.