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 ?
Chief Retail Banking Officer at Kuwait Finance House (KFH) Mohammed Al-Fouzan stated that KFH has best array of deposits among local banks, since those deposits vary in rates, period of time, and investment rate.
The executrix filed suit to recover the $140,000, contending that she intended the payments to be a deposit in the nature of a cash bond, not a payment.
6 million, is the 24th largest insured depository institution in Arkansas, controlling deposits of approximately $301.
Banks would be obliged (by law) to re-denominate all deposits and loans into florins if requested to do so by Dutch customers.
While legislators in Connecticut are considering a variety of options regarding the bottle bill, McLaughlin's preferred plan would allow for the inclusion of non-carbonated beverage containers; an increase in the deposit amount from five cents to 10 cents; unredeemed deposits to become property of the state; and an increase in the handling fee paid to redemption centers.
Keep in mind there are also provisions that limit the deposit of rent in court requirements for senior citizens and certain public assistance recipients.
To resolve the SAIF's problems, Hawke proposed that "institutions with SAIF-insured deposits could pay a special assessment at a rate sufficient to increase the SAIF's reserves to $1.
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.
The revised look-back rule (including the procedure for IRS notification of depositor status), the Wednesday-Friday deposit regime (with a three banking-day minimum), and the year-long transition period all demonstrate the IRS's and Treasury's willingness to listen to its stakeholders and the public -- and to act upon what they hear.
The ED goes on to say (in paragraph 12, page 4) that "[i]n estimating the market value of deposit liabilities, a financial entity shall not take into account the value of core deposit intangibles which are separate intangible assets, but not financial instruments.
Otherwise, the deposit may slump when the furnace is poured, filling the lower part of the crucible with a difficult-to-remove material.
However, the companies have located a deposit of fluorite.