DEPOSIT BOND. 15.1 This general condition only applies if the applicable box in the particulars of sale is checked.
15.2 In this general condition “deposit bond” means an irrevocable undertaking to pay on demand an amount equal to the deposit or any unpaid part of the deposit. The issuer and the form of the deposit bond must be satisfactory to the vendor. The deposit bond must have an expiry date at least 45 days after the due date for settlement.
15.3 The purchaser may deliver a deposit bond to the vendor's estate agent, legal practitioner or conveyancer within 7 days after the day of sale.
15.4 The purchaser may at least 45 days before a current deposit bond expires deliver a replacement deposit bond on the same terms and conditions.
15.5 Where a deposit bond is delivered, the purchaser must pay the deposit to the vendor's legal practitioner or conveyancer on the first to occur of:
(a) settlement;
(b) the date that is 45 days before the deposit bond or any replacement deposit bond expires;
(c) the date on which this contract ends in accordance with general condition 35.2 [default not remedied] following breach by the purchaser; and
(d) the date on which the vendor ends this contract by accepting repudiation of it by the purchaser.
15.6 The vendor may claim on the deposit bond without prior notice if the purchaser defaults under this contract or repudiates this contract and the contract is ended. The amount paid by the issuer satisfies the obligations of the purchaser under general condition 15.5 to the extent of the payment.
15.7 Nothing in this general condition limits the rights of the vendor if the purchaser defaults under this contract or repudiates this contract, except as provided in general condition 15.6.
15.8 This general condition is subject to general condition 14.2 [deposit].
DEPOSIT BOND. 3.1 This clause applies only if this contract says the vendor has agreed to accept a deposit-bond for the deposit (or part of it).
3.2 The purchaser must provide the original deposit-bond to the vendor's solicitor (or if no solicitor the
3.3 If the deposit-bond has an expiry date and completion does not occur by the date which is 14 days before the expiry date, the purchaser must serve a replacement deposit-bond at least 7 days before the expiry date. The time for service is essential.
3.4 The vendor must approve a replacement deposit-bond if –
3.4.1 it is from the same issuer and for the same amount as the earlier deposit-bond; and
3.4.2 it has an expiry date at least three months after its date of issue.
3.5 A breach of clauses 3.2 or 3.3 entitles the vendor to terminate. The right to terminate is lost as soon as –
3.5.1 the purchaser serves a replacement deposit-bond; or
3.5.2 the deposit is paid in full under clause 2.
3.6 Clauses 3.3 and 3.4 can operate more than once.
3.7 If the purchaser serves a replacement deposit-bond, the vendor must serve the earlier deposit-bond.
3.8 The amount of any deposit-bond does not form part of the price for the purposes of clause 16.7.
3.9 The vendor must give the purchaser the deposit-bond –
3.9.1 on completion; or
3.9.2 if this contract is rescinded.
3.10 If this contract is terminated by the vendor –
3.10.1 normally, the vendor can immediately demand payment from the issuer of the deposit-bond; or
3.10.2 if the purchaser serves prior to termination a notice disputing the vendor's right to terminate, the vendor must forward the deposit-bond (or its proceeds if called up) to the depositholder as stakeholder.
3.11 If this contract is terminated by the purchaser –
3.11.1 normally, the vendor must give the purchaser the deposit-bond; or
3.11.2 if the vendor serves prior to termination a notice disputing the purchaser's right to terminate, the vendor must forward the deposit-bond (or its proceeds if called up) to the depositholder as stakeholder.
DEPOSIT BOND. In this special condition:
DEPOSIT BOND a) The word Bond means the Deposit Bond issued to the vendor at the request of the purchaser by the bond provider.
c) The purchaser must pay the amount stipulated in the Bond to the vendor in cash or
DEPOSIT BOND. To confirm your booking we require a deposit bond. We ask that you forward this within 2 working days of receipt of your booking letter to secure your booking. Unfortunately the booking will be automatically cancelled if the Deposit Bond is not received within this time frame. Receipt will be forwarded to you to confirm the booking. Please contact us if receipt is not received. Following your departure the bond will be refunded once a satisfactory inspection of the property has been completed. This will be processed within 14 days of departure.
DEPOSIT BOND. 22.1 The Seller may, in its total discretion and without any obligation to do so, accept from the Buyer as security for payment of the Deposit a Deposit Bond to be lodged with the Seller’s Solicitor which may or may not be limited as to time.
22.2 If that happens, the Buyer must, as an Essential Term:
(a) at the Buyer’s expense, within 10 Business Days after direction by the Seller, replace the Deposit Bond with a cash deposit or compliant Bank Guarantee; or
(b) if the Deposit Bond is limited as to time, and without any direction by the Seller to do so, replace the Deposit Bond with a replacement Deposit Bond (which the Seller may or may not accept in its total discretion), cash payment of the Deposit or compliant Bank Guarantee not less than 10 Business Days before its expiry date.
22.3 The Seller’s Solicitor may call upon a Deposit Bond lodged under this Special Condition if:
(a) this contract has been terminated for default by the Buyer and the Seller has declared the Deposit forfeited; or
(b) the Buyer has delivered a Deposit Bond which is limited by time; and
(c) the Buyer has failed (whether or not directed to do so by the Seller) to replace the Deposit Bond with a replacement Deposit Bond, cash Deposit or compliant Bank Guarantee at least 10 Business Days before expiry of the Deposit Bond; and
(d) the terms of the Deposit Bond permit a call to be made on it without termination of this contract by the Seller.
22.4 The Buyer must not do anything which may cause the Deposit Bond to be withdrawn, revoked, compromised, terminated or limited in any way.
22.5 If before settlement of this Contract the Seller determines on reasonable grounds that a Deposit Bond is no longer acceptable to the Seller, then the Seller may require the Buyer by notice in writing to pay the Deposit to the Deposit Holder by electronic funds transfer or cheque in lieu of or in exchange for the Deposit Bond. The Buyer agrees to do this on or before 10 Business Days after request.
DEPOSIT BOND. All motorcycle rentals will have a $2000.00 bond on Pre-Authorization on a bank-card or cash bond for over 25 years of age and $2650 for 21 to 24 year old renters. Cash bond will be returned when motorcycle is returned in the same condition as received and Pre-Authorization with drop off in 7 days from transition.
DEPOSIT BOND. In this Contract, the word „Bond‟ means the original Bond issued to the Vendor at the request of the Purchaser by the bond issuer (the “Guarantor”) a deposit bond or irrevocable letter of credit, order or undertaking Issued by a bank or financial institution that is acceptable to the Vendor (in its absolute discretion) and in favour of the Vendor for the amount of Deposit upon terms and conditions which are to the satisfaction of the Vendor in its absolute discretion. The delivery of the original Bond no later than the time the Deposit is required to be paid under this Contract to the person (“Deposit Holder”) nominated in this Contract to hold the Deposit as Stakeholder shall, to the extent of the amount guaranteed under the Bond, be deemed to be payment of the Deposit in accordance with this Contract. On completion of this Contract, the Purchaser shall pay to the Vendor, in addition to all other moneys payable under this Contract, the amount stipulated in this Bond, either by way of Cash or unendorsed Cheque drawn by an authorized deposit-taking Institution within the meaning of the Banking Act 1959 of the Commonwealth. If the Vendor serves on the Purchaser a Notice of Rescission, then to the extent that the amount has not already been paid by the Guarantor under the Bond, the Purchaser shall forthwith pay the Deposit (or so much thereof as has not been paid) to the Deposit Holder. The Vendor acknowledges that payment by the Guarantor under the Bond shall, to the extent of the amount paid, satisfy the Purchaser‟s obligation to pay the Deposit under the previous paragraph.
7.1 Deposit The failure by the Purchaser to pay the deposit or part thereof on the due date shall be a fundamental breach of the contract. The Vendor will be entitled to terminate the contract immediately at the Vendors option. General Condition 27 shall not apply where the deposit or part of the deposit has not been paid upon the due date.
DEPOSIT BOND. The deposit cannot be paid in whole or in part by way a Deposit Bond unless the contract of sale includes a special condition setting out all the requirements in relation to the terms of the bond, the delivery of the bond and the renewal of the bond.
