SELLER GUARANTEE DEPOSIT Definition

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SELLER GUARANTEE DEPOSIT is a good-faith deposit of funds that is made to demonstrate that the seller is confident enough in their technical skills and time management abilities to guarantee that they will complete the project 100% and on time. If the project is completed successfully, then the seller receives back the Seller Guarantee Deposit (minus the Seller Guarantee Deposit Processing Fee). If the project is not completed successfully, the seller forfeits the entire Seller Guarantee Deposit as liquidated damages for the breech.

Learn new Accounting Terms

UNDISTRIBUTED EARNINGS see RETAINED EARNINGS.

PRE-OPERATING COSTS are costs that are deferred until the related assets are ready for revenue service at which time the costs are charged to operations.

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