What is advance deposit❓
What is advance deposit❓
Deposit (earnest) is money received in advance from the sale of goods. or to provide services provided on the date of the contract being agreed as evidence of purchase or or provide services as a guarantee for the performance of the contract
According to the Civil and Commercial Code, Section 378 means that the deposit, if not agreed otherwise. to comply with this requirement are:
- to return or collect some money to pay off the debt
- to forfeit if the party depositing the deposit neglects to pay the debt or payment of debt becomes impossible because of any behavior for which that party is responsible or the contract is terminated because of the fault of that party
- return if the party receiving the deposit neglects to pay the debt or payment of debt becomes impossible because of any particular circumstance for which this party is responsible
Businesses that are registered for VAT A tax invoice must be issued on the date of receipt of the deposit every time. Except for certain types of businesses that are exempt from VAT, such as real estate rental business. Business selling agricultural crops Business selling newspapers, magazines or textbooks, etc.
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