Bail

A bond is a financial deposit or guarantee that is used in various contexts as security against possible future claims, losses or damages. This deposit is required upfront as protection for the landlord, service provider or other party that could be affected by a failure to comply with the agreed terms or by causing damage. The term security deposit may also refer to a sum of money used as a guarantee for the performance of an obligation or as a deposit at the time of conclusion of a contract. The deposit may be refunded upon termination of the contract or fulfilment of the conditions.

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