The Non-Refundable Deposit Agreement is a crucial document used in Indian business and property transactions to secure commitments and mitigate risks. This agreement is typically employed when one party needs to demonstrate serious intent in a transaction by providing a non-returnable deposit, such as in property purchases, business acquisitions, or significant service contracts. It must comply with Indian contract law, particularly the Indian Contract Act, 1872, and may require registration under specific circumstances. The document includes essential details such as deposit amount, payment schedule, explicit non-refundability clauses, and the conditions under which the deposit is forfeited. It's particularly important in high-value transactions where parties need to establish firm commitments and allocate risk effectively.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification and details of all parties to the agreement
2. Background: Context of the agreement, including the purpose of the deposit and the underlying transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Deposit Amount and Payment: Specification of the deposit amount and payment terms
5. Non-Refundable Nature: Clear statement of the non-refundable nature of the deposit and specific circumstances under which this applies
6. Purpose of Deposit: Detailed explanation of what the deposit is securing or its intended use
7. Representations and Warranties: Statements of fact and promises made by both parties
8. Default and Consequences: Actions constituting default and their consequences
9. Notices: How and where formal communications between parties should be made
10. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
1. Multiple Payment Schedule: Include when the deposit is to be paid in installments
2. Third Party Rights: Include when there are third parties who may have rights or obligations under the agreement
3. Force Majeure: Include when parties want to address circumstances beyond their control that might affect the agreement
4. Conditions Precedent: Include when there are specific conditions that must be met before the deposit becomes non-refundable
5. Assignment: Include when either party may need to transfer their rights or obligations
6. Confidentiality: Include when sensitive information will be exchanged as part of the transaction
7. Electronic Execution: Include when the agreement may be signed electronically
1. Payment Schedule: Detailed breakdown of payment amounts and dates if multiple payments are involved
2. Property Details: If the deposit relates to property, detailed description of the property
3. Underlying Transaction Details: Details of the main transaction for which the deposit is being paid
4. Bank Account Details: Specified bank account information for deposit payments
5. Contact Details: Detailed contact information for all parties and their representatives
Find the exact document you need
Non Refundable Contract
An Indian law-governed agreement establishing non-refundable payment terms and conditions between parties, with clear stipulations on non-returnable amounts and circumstances.
Download
Non Refundable Agreement
An Indian law-compliant agreement template establishing terms for non-refundable payments or deposits between parties.
Download
Earnest Money Agreement
A legally binding agreement under Indian law that formalizes a property purchase intention through an earnest money deposit, protecting both buyer's and seller's interests.
Download
Deposit Contract
An Indian law-governed agreement establishing terms and conditions for a deposit arrangement between depositor and depositee, including amount, duration, and interest terms.
Download
Lease Rental Bond Policy
An Indian insurance policy document that replaces traditional security deposits in lease arrangements, providing financial protection to property owners against tenant defaults.
Download
Sale Deposit Agreement
An Indian law-compliant agreement documenting terms of deposit payment and conditions for a sale transaction between buyer and seller.
Download
Pet Deposit Contract
An Indian law-compliant agreement governing pet deposits in residential rental properties, outlining deposit terms and pet-related responsibilities.
Download
Good Faith Deposit Contract
An Indian law-governed agreement establishing terms for a good faith deposit, including payment, holding, and release conditions.
Download
Employee Security Deposit Agreement
An agreement governing employee security deposits in India, outlining collection, maintenance, and return terms while ensuring compliance with Indian employment laws.
Download
Month To Month Rent Agreement
An Indian jurisdiction-compliant month-to-month rental agreement template with automatic monthly renewal terms.
Download
Vehicle Deposit Agreement
An Indian law-governed agreement establishing terms for vehicle deposits, including payment conditions and vehicle details.
Download
Deposit Agreement Contract
An Indian law-governed agreement establishing terms and conditions for deposits between a depositor and financial institution, including interest rates, term, and withdrawal rights.
Download
Cash Deposit Agreement
An Indian law-governed agreement establishing terms and conditions for cash deposits between a bank/financial institution and a depositor, including deposit terms, interest rates, and withdrawal rights.
Download
6 Month Rent Contract
A six-month rental agreement template compliant with Indian property laws, suitable for both residential and commercial properties.
Download
Refundable Deposit Agreement
An Indian law-governed agreement establishing terms and conditions for a refundable deposit, including deposit amount, holding period, and refund conditions.
Download
Deposit Rental Agreement
An Indian law-governed agreement establishing terms for property rental and security deposit management between landlord and tenant.
Download
Non Refundable Deposit Agreement
An Indian law-governed agreement establishing terms for a non-refundable deposit payment, specifying amount, conditions, and its non-refundable nature.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)