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Company / Laws

How to make the Deposit agreement

Question - answer - Legal advice 11.04.2019 at 16:57

Question - answer - Legal advice

The Agreement on entering of the Deposit is a document evidencing a financial way to enforce the principal obligation under the supply agreement or purchase and sale. The Deposit agreement is to ensure the fulfillment of obligations recognized in relation to it main. A term introduced by the Civil code in the Chapter on enforcement. In articles 380 and 381 of the civil code a definition of the term and the consequences of nonperformance of the contract on him. Is a legislative framework of such relations. Definition the Deposit is the hard guarantee the fulfillment of all conditions of the contract: for these purposes, one party gives them a second specific amount of money which can lose in case of failure of the contract through the fault of this side. If the failure to blame the other side receiving the funds, it is obliged to return double the amount. Perhaps the penalty associated with the failure loss, if the evidence be provided by the party concerned. All these rules are contained in article 381 of the civil code.