INITIAL DEPOSIT RECEIPT Sample Clauses

The Initial Deposit Receipt clause serves to formally acknowledge the receipt of an initial deposit from one party, typically in the context of a purchase or contractual agreement. This clause specifies the amount received, the date of receipt, and may identify the method of payment or the party holding the funds, such as an escrow agent. By documenting the transfer and acceptance of the initial deposit, the clause provides clear evidence of partial performance and helps prevent disputes regarding payment, thereby ensuring transparency and accountability in the transaction process.