A Security Deposit is…

August 21st, 2009

A security deposit is a form of collateral, or item of value, that is pledged when making a financial agreement. It can be used for a range of business agreements, such as contracts, rentals, or purchases. For example, when you rent an apartment, you have to put down a security deposit, and if you do damage to the apartment or stop paying rent, the deposit is forfeited.

Tags: , ,

Leave a Comment

All comments are moderated before being displayed.