Common use of Initial Rental Deposit Clause in Contracts

Initial Rental Deposit. A deposit totaling 35% of the agreed upon Total Amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by traveler's checks, bank money order, certified check or major credit card. Personal checks will be accepted upon approval; if funds are not credited within seven days booking will be cancelled. The deposit amount is $_DepositAmount_.