Sundry deposit definition
Sundry deposit means a person who receives goods or services from the Municipality and does not make payment immediately and is liable to pay for the service in future. Also called sundry debtors or accounts receivable
Examples of Sundry deposit in a sentence
Where it is paid, the respective institution shall hold the Sundry Deposit and be entitled to draw on the Sundry deposit at any time: a) to pay any sum which is due but unpaid by the Student under this Agreement or to obtain a sum in reasonable compensation for any other non-compliance by the Student with his/her obligations under this Agreement; b) to cover any reasonable administration charge levied by the Licensor in accordance with this Agreement.