How we use the deposit Clause Samples
The 'How we use the deposit' clause defines the purposes for which a deposit paid by a party—typically a buyer or tenant—can be used by the receiving party, such as a seller or landlord. This clause usually outlines whether the deposit will be held as security against damages, applied toward the final payment, or forfeited in the event of a breach of contract. By specifying the permitted uses of the deposit, the clause ensures transparency and helps prevent disputes over the handling of these funds.
How we use the deposit. Unless you have indicated that you would like to donate the deposit to the School’s bursary fund, the deposit will form part of the general funds of the School until it is credited without interest to the final payment of the fees or other sums due to the School on your child’s leaving (unless otherwise stated in these terms and conditions).
How we use the deposit. Unless you have indicated that you would like to donate the deposit to the ▇▇▇▇ Close Foundation, the deposit will form part of the general funds of the School until it is credited without interest to the final payment of the fees or other sums due to the School on your child’s leaving (unless otherwise stated in these terms and conditions).
How we use the deposit. The deposit will form part of the general funds of the School and will be refunded to you by means of a credit without interest to the final payment of fees or other sums due to the School on your child leaving.
How we use the deposit. At the end of your Child’s final Term at the School, you will be issued with a leaver’s invoice. This will include any outstanding balances due (for example for trips taken that Term or amounts not previously paid). The total amount of the leaver’s invoice will be deducted from the Deposit and the balance of the Deposit will be refunded to you, without interest, via a BACS transfer.
How we use the deposit. The deposit will be held by the School until it is credited without interest to the final payment of the fees or other sums due to the School on your child's leaving (unless otherwise stated in these terms and conditions).
How we use the deposit. The deposit will form part of the general funds of the School until it is credited without interest (having deducted any disbursements in the final term) within three months of your child leaving the School (unless otherwise stated in these terms and conditions).
How we use the deposit. The deposit will form part of the general funds of the School until it is credited without interest to the final payment of the fees or other sums due to the School on your daughter’s leaving. PLEASE READ THIS NEXT SECTION CAREFULLY - it deals with what you need to do if you wish to withdraw your acceptance of a place before your daughter joins the School and what happens if you withdraw before that stage. The cancellation of a place which has been accepted can cause losses to the School, especially if it occurs after other families have taken their decisions about schooling for their daughter as it means we are less likely to fill the place. This is why we require the period of notice referred to here for a withdrawal, and why different consequences follow depending on whether we get that period of notice or not.
How we use the deposit. Unless you have indicated that you would like to donate the deposit to the Oakham School Foundation, the deposit will form part of the general funds of the School until it is credited without interest to the final payment of the fees or other sums due to the School on your child's leaving (unless otherwise stated in these terms and conditions).
How we use the deposit. The deposit will form part of the general funds of the School until it is repaid to you without interest provided no other sums are due to the School on your child's leaving. do if you wish to withdraw your acceptance of a place before your child joins the School and what happens if you withdraw at that stage. The cancellation of a place which has been accepted can cause losses to the School, especially if it occurs after other families have taken their decisions about schooling for their children as it means we are less likely to fill the place. This is why we require the period of notice referred to here for a withdrawal, and why different consequences follow depending on whether we get that period of notice or not.
How we use the deposit. Unless you have indicated that you would like to donate the deposit to the School’s Development Fund, the deposit will form part of the general funds of the School until it is credited without interest to the final payment of the fees or other sums due to the School on your child’s leaving (unless otherwise stated in these terms and conditions). Where a child is a boarding pupil we retain £1000 of the deposit and deduct from this any unpaid expenses and/or outstanding amounts. You will be informed of any amount deducted. The retained sum minus any deductions will be paid to you by 31st August of the year your child leaves the School.