Common use of Contract Deposit Clause in Contracts

Contract Deposit. Payable on the date the Building Contract is signed. DEPOSIT (A) = $ incl GST NOTE: If you elect loss of deposit cover in a Master Build Guarantee, this will only cover loss of a deposit up to a maximum of the lesser of: • 10% of the CONTRACT PRICE; or • the maximum sum specifically allowed for in the guarantee

Contract Deposit. Payable on the date the Building Contract is signed. DEPOSIT (A) = $ $0.00 incl GST NOTE: If you elect loss of deposit cover in a Master Build Guarantee, this will only cover loss of a deposit up to a maximum of the lesser of: • 10% of the CONTRACT PRICE; or • the maximum sum specifically allowed for in the guarantee