Whichever party decides to violate the agreement will lose saint kitts and nevis business email list the money. The rules for drawing up a deposit agreement are set out in Article 380 of the Civil Code of the Russian Federation .
How does this happen in practice?
Let's say you've found a suitable apartment and decided to buy it. Now the seller will need to prepare the documents for the transaction. It is in their interests to receive confirmation that the buyer has firmly made their choice and will not back out of the purchase at the last moment.
But the buyer also needs guarantees that the seller will not try to sell the property to other people on more favorable terms.
It is important for both the seller and the buyer to fix the terms. The transaction can be delayed for many reasons, especially if we are talking about a chain with several purchases and sales.
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Is the deposit returned or not?
This is the main issue that worries both parties. If the buyer refuses the deal, the deposit remains with the seller.
