Nonrefundable Deposits Sample Clauses

A Nonrefundable Deposits clause establishes that any deposit paid under the agreement will not be returned to the payer, regardless of whether the transaction is completed. In practice, this means that if a buyer or client pays a deposit to secure goods, services, or a reservation, they forfeit that amount if they later cancel or fail to fulfill their obligations. The core function of this clause is to protect the recipient from losses due to cancellations or non-performance, ensuring compensation for time, resources, or opportunities lost.
Nonrefundable Deposits. Buyer agrees that any request for changes or alterations (“Change Orders”) to the residence will be set forth in writing and delivered to Seller. Any requested Change Order must be in writing and signed by Buyer and Seller in order to be binding. No subcontractor, ▇▇▇▇▇▇▇ or materialman has authority to agree on behalf of Seller to any Change Order. Buyer agrees that all Change Order requests must be presented to Seller so as to allow Seller adequate lead time to schedule the Change Orders into the normal building sequence. Seller has the right to refuse to make requested changes or alterations. Buyer agrees to pay Seller in advance of the performance of work necessitated by agreed Change Orders which will include the cost for both labor and materials and further understands that there will be no refunds, under any circumstances, of payments made by Buyer for Change Orders. Buyer further acknowledges that any work done on the home pursuant to Change Orders or additions may not increase the appraised value of the Property. Seller shall not be responsible if increases in the price of the Property due to Change Orders or additions are not reflected in the appraised value of (and resulting available loan for) the Property. In the event the Property does not appraise due to Change Orders and upgrade items, Buyer shall be responsible for producing the additional funds needed to Close.
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Nonrefundable Deposits. If BUYER desires changes or modifications to the Plan for Improvements, subject to the approval of the Change Order by SELLER, an Addendum to Sales Contract shall be completed for the same and executed by both SELLER and BUYER as an Addendum to this Contract. At such time, BUYER shall deposit with SELLER additional monies for the changes or modifications, if any, outlined in the HOME SELECTIONS SCHEDULE. All Change Order fees are non-refundable. The cumulative increase in cost represented by all Change Orders shall adjust the Purchase Price and be reflected on the Change Order Addendum to the Sales Contract, in which case all additional monies deposited with SELLER for Change Orders shall be applied to closing costs and/or the down payment at Closing. Once the construction process has commenced (as defined above) on the Improvements, the deposit for Change Orders shall not be returned to
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Related to Nonrefundable Deposits

  • Non-Refundable Payments If the Seller accepts non-refundable payment(s) from a prospective Buyer through a purchase contract, and said ▇▇▇▇▇ does not complete the purchase of the Property, such non-refundable payment(s) shall be distributed equally between the Seller and the Agency up to the commission amount the Agency would have collected if the Property had sold under the agreed upon terms. If the Property is sold afterward to the same or different Buyer, the Agency shall be entitled to a Commission less payments received under this Section.

  • Direct Deposits The Credit Union may offer direct deposit options allowing you to preauthorize deposits (i.e., payroll checks, Social Security or retirement checks, or other government checks) or preauthorize transfers from other accounts at the Credit Union. You must authorize any direct deposits to your accounts by a separate authorization form. If applicable, you must notify the Credit Union at least thirty (30) days prior to any direct deposit or preauthorized transfer if you wish to cancel or change the direct deposit or direct transfer option. Upon a filing of a bankruptcy, if you fail to cancel any direct deposit authorization, you instruct your employer and the Credit Union to make and apply direct deposits in accordance with your authorization on file with the Credit Union. If the Credit Union is required to reimburse the U.S. Government for any benefit payment directly deposited into your account for any reason, you agree the Credit Union may deduct the amount returned from any of your accounts, unless prohibited by law.