NO DEPOSIT REQUIRED Sample Clauses
The "No Deposit Required" clause specifies that the party entering into the agreement is not obligated to pay any upfront deposit as a condition of the contract. In practice, this means that the party can access goods, services, or premises without providing a security payment or advance sum at the outset. This clause is particularly relevant in rental or service agreements where deposits are commonly used to secure performance or cover potential damages. Its core function is to remove the financial barrier of an initial deposit, making the agreement more accessible and reducing the upfront financial risk for the party that would otherwise be required to pay.
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NO DEPOSIT REQUIRED. Applicants 65 years of age and older who are not currently delinquent in paying their electric service account, applicants who have been declared a victim of domestic violence, former or current active- duty military upon providing reasonable proof of service, and applicants who have provided a letter of credit will qualify to have the deposit waived. Please call us for more information on all available deposit waivers.