Businesses will sometimes insist it's non-refundable if you cancel and even write it into the contract. bzzsaw. and maybe I have to give them for example 30 days to come up with payment. It is very common for a deposit to be paid to secure a horse before the purchase proceeds. 4 posts. It's been 2 weeks and I am still waiting to be paid in fill. Participant. March 14, 2012 at 1:14 pm #1049162. But usually, a deposit is refundable, or non-refundable depending on what's written in a contract, on a receipt, or posted at the dealership. 9 June 2010 at 12:44PM edited 30 November -1 at 12:00AM in Motoring. The customer says he didn't sign anything. A valid Visa, MasterCard, Discover Card or American Express is required to hold your reservation. It is also a promise of the seller to hold the vehicle until you finalize the purchase. My understanding was that if it was a non-refundable deposit, the sales person has to give me notice of the conditions under which it is refunded (as in natural calamity etc), cooling off periods etc. I put a 5,000 dollar deposit on a boat with the verbal agreement that the seller would finish the on-going restoration project and replace certain parts of the boat. Upon the second inspection, over a three week period, I viewed discrepincies which varied from the agreement, therefore, I decided against the purchase. A deposit is part of the total cost of something or an advance payment paid for at the time of booking. 7 replies 1.3K views nellycollie Forumite. Deposits – refund or retain? I was waiting for an insurance check before finalizing the purchase. For rafts, the deposit is $10 per person, per day. refundable deposit. SECURING YOUR BOAT RENTAL A non-refundable deposit of $10 per canoe or kayak / per day rented is due at the time of booking. I bought my last vehicle from Luther Chev and put a 500.00 deposit on it. Posts: 2,804. TBH, I couldn't part with my grand quick enough. The deposit receipt simply stated received X amount of dollars as deposit on (year/model of boat) and signed by buyer and seller. Placing money down or a deposit on a vehicle is a promise that you are going to purchase it. boat deposit refund. hi i'm new to mse forum although i have … Most deposits or money down are not refundable unless stated otherwise. What is a non-refundable deposit? I was just wondering if accepting the deposit made a contract . When I bought my boat I gave the seller $300 cash. jakamy, May 2, 2010. jakamy, May 2, 2010 #4. But a business can only do this if the contract term is fair. 9 June 2010 at 12:44PM edited 30 November -1 at 12:00AM in Motoring. Here are a few ways to protect your deposit on your next vehicle purchase. User #242830 303 posts. Often, the terms on which that deposit is to be held are not discussed, though it is understood that the seller will withdraw the horse from the market until the prospective buyer is … It was never mentioned that it was a "non refundable deposit". A non refundable deposit means you will be back.. Al. Hudson, Wi. We paid £1,000 deposit which we were assured would be refunded if the survey turned out to be so bad that we didn't want the boat, but not refundable if we had the survey done and then just changed our minds or got cold feet. I have a signed receipt that does not indicate "NON REFUNDABLE", it merely states "deposit" and I have a witness that came to look at the vehicle with me that CLEARLY heard AND understood the particulars of the sale ie; having it looked over BEFORE final payment. N'T part with my grand quick enough into the contract term is fair in Motoring on a is! 1:14 pm # 1049162 give them for example 30 days to come are boat deposits refundable with.! 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