Receipts / Deposit Receipt Template
Record the deposit, what it holds or secures and its terms, and download a deposit receipt as a PDF.
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A deposit receipt confirms that you received money in advance to hold a date, order materials or secure a rental. Contractors take deposits before starting work, photographers and venues to reserve a date, and landlords as security against damage. The receipt should say exactly what the deposit is for, the total price it applies to, the remaining balance and when that balance is due. Just as important are the terms: is the deposit refundable, and under what conditions? That's where most disputes start. Rules differ by type of deposit. Some states limit how much a contractor can collect upfront on home-improvement work, and security deposits on rentals have their own rules on amounts and returns. Check your local rules before you set terms.
Is a deposit refundable?
It depends on what was agreed and on local rules. Write the terms on the receipt: whether it's refundable, partly refundable or applied to the final price, and under what conditions.
How much deposit can a contractor ask for?
Some states limit deposits on home-improvement contracts to a set percentage or amount. Check your state's rules before asking for a deposit on residential work.
What's the difference between a deposit and a security deposit?
A deposit usually goes toward the final price. A security deposit, such as for a rental, is held to cover damage or unpaid amounts and is returned under rules that vary by state.
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