The Deposit Fee Sample Clauses
The Deposit Fee clause establishes the requirement for one party to pay a specified sum upfront as a deposit in connection with a contract or agreement. Typically, this fee is paid at the outset to secure a reservation, demonstrate commitment, or cover initial costs, and may be refundable or non-refundable depending on the terms. Its core practical function is to ensure that the party receiving the deposit has some financial assurance of the other party’s intent to proceed, thereby reducing the risk of last-minute cancellations or non-performance.
The Deposit Fee except in the case of a fully funded 2YO place, the deposit fee of £400 will be charged once a place has been confirmed, to be held without payment of interest. This is refunded once the child has been withdrawn with all necessary notices given and all fees paid. We reserve the right to apply the deposit fee in payment or part payment of any fee that are overdue for payment.