Are deposits paid non-refundable?

In summary, a deposit is security for the buyer's performance of the contract. It is generally not refundable unless the contract expressly states otherwise. In contrast, a part-payment is refundable, subject to any losses that the innocent party may have as a result of the breach.



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A fully refundable deposit engages consumer participation By refunding the deposit in full once the container returned, as well as clearly and separately communicating the deposit value at purchase, it encourages consumers to participate in the system and enable strong return rates to be achieved.

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Deposited items can be returned for many reasons, such as insufficient or unavailable funds, stop payment, closed account, questionable or missing signature, etc. Funds from items you deposit are made available to you, even if the item you are depositing has not cleared the bank on which it was drawn.

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