Contract deposit
The New Homes Quality Board Glossary of the terms used in the Code and Guidance, published by The New Homes Quality Board in 2021, defines a contract deposit as: ‘a deposit paid by the Customer to the Developer at Contract Exchange which acts as part payment towards the purchase of the New Home and demonstrates the Customers’ commitment to buy the New Home.’
[edit] Related articles on Designing Buildings
- Agent.
- Contract.
- Contract exchange.
- Contract of sale.
- Customer.
- Developer.
- Quality.
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