security deposit
noun
Pronunciation: sɪˈkjʊrəti dɪˈpɒzɪt
Definition
A sum of money paid to a landlord or service provider to ensure the fulfillment of a contract, which is typically returned at the end of the agreement if no damages or unpaid debts exist.
Examples
We received our full security deposit back after moving out because we left the apartment in perfect condition.
The lease agreement states that the security deposit will be forfeited if the tenant breaks the contract early.
Make sure to document all existing scratches in the unit before moving in so you don't lose your security deposit later.
Synonyms of security deposit
Words with a similar meaning to security deposit:
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