earnest payment
- A partial deposit showing commitment in a contract, mostly in real estate deals, where the rest is paid later, but if the buyer fails to pay on time, the seller keeps the deposit
- She made an earnest payment to secure the beachfront property.
- Failure to make the full payment after the earnest payment would result in loss of the deposit.
- The seller received the earnest payment as a commitment from the buyer on the condominium purchase.
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