earnest money


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Related to earnest money: option money, earnest money contract

earnest money

n.
Money paid as partial payment of a purchase price in order to establish a binding contract of sale.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.earnest money - money given by a buyer to a seller to bind a contract
earnest - something of value given by one person to another to bind a contract
References in classic literature ?
As soon as the earnest money was paid, D'Artagnan took possession of his lodging, and passed the remainder of the day in sewing onto his doublet and hose some ornamental braiding which his mother had taken off an almost-new doublet of the elder M.
Instructions/Remarks: Required Earnest Money Is Rs 2000000 Rs Twenty Lacs Or Us Dollars 30900 Or 2 Percent Of Total Quoted Value Whichever Is Lesser.
At this point it is important to discuss similarities and differences between earnest money and advance payment.
Lending institutions realised it late and have offered the earnest money now.