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While the deposit contract is not mandatory, it is a crucial foundation to ensure legal safety in a significant transaction. This is why Mytour presents readers with some deposit contract templates to familiarize them with the regulations and writing style.
Compilation of various deposit contract templates, handwritten land deposit notes following legal regulations, widely utilized by many.
1. Latest 2023 Deposit Contract Templates.
2. Guide to Drafting Deposit Contracts.
3. Distinguishing Between Advance Payment and Deposits.
1. Latest 2023 Deposit Contract Templates
- Template 01: General Deposit Contract
- Template 02: Rental House Deposit Contract
- Template 03. Template for Deposit Contract for Condominium Sale
* Download the complete set of templates HERE
In addition to the mentioned contract templates, readers can explore more deposit contract templates in the article Template for deposit contracts and handover receipts for house and land purchases to gain additional legal knowledge about real estate.
2. Guide to Drafting Deposit Contracts
The deposit contract templates in section 1 are quite detailed; parties creating contracts should pay attention to the following aspects:
+ Information about the depositing and receiving parties.
+ Assets for deposit (money, precious metals, gemstones).
+ Agreement on the resolution of the deposit amount.
Exploring the concept of subjects and essential information in the deposit agreement for buying real estate, apartments, and condominiums today.
3. Distinguishing between advance payment and earnest money
- The fundamental difference between advance payment and earnest money lies in the legal nature. Advance payment involves fulfilling a part of the payment obligation in a purchase agreement, whereas earnest money is a measure to ensure the conclusion or execution of the contract.
- In case of a breach of obligation by the seller, the advance payment is refunded to the buyer without any penalty. On the other hand, if the party receiving earnest money violates the earnest money contract, the seller must refund the earnest money and the corresponding penalty.
To address potential disputes, Article 37 of Decree 21/2021/ND-CP stipulates that if one party in a contract assigns an unspecified amount of money to the other, not clearly defined as a deposit or advance payment, this amount is considered an advance payment.
Although the deposit contract template is widely used in practice, legally, a deposit does not need to be in writing or notarized. A written form enhances the legal security of the deposit, making it the optimal choice for individuals and organizations.
In addition to deposits, mortgage is also a common means of ensuring the fulfillment of civil obligations. Interested readers can follow the Sample mortgage contract using the value of land use rights shared by Mytour.
