In consideration for the acquisition of Black Dragon, we issued a total of 20,000,000 common shares to the two sellers on the closing date and paid $100,000 as a non-refundable deposit prior to closing. In addition, we have assumed a commitment for certain cash payments totalling $2.7 million prior to September 1, 2018 (or $2.4 million if all payments are made by September 1, 2017) for active participation in the Black Dragon property. A deposit is usually associated with a purchase contract with the payer, who is required to meet its conditions or lose the amount of the deposit. If the payer fulfills the end of his contract or agrees to purchase, the deposit will either be credited to the total amount of the purchase, and for owner-tenant situations, the deposit will be refunded to the tenant at the end of the rental. On the 19th. In April 2017, the Company entered into a share exchange agreement with Arista Capital Ltd. (“Arista Capital”) and the shareholders of Arista Capital (the “Share Exchange Agreement”), pursuant to which, subject to the terms of the Share Exchange Agreement, the Company agreed to exchange newly issued shares of the Company for shares of Arista Capital held by the shareholders of Arista Capital, Arista Capital becoming a wholly-owned subsidiary of the Company (the “Transaction”). The closing of the Transaction (the “Closing”) should take place sixty days after the conclusion of this Agreement. On July 18, 2017, the parties completed the first addendum to the share exchange agreement, which set the closing date of the transaction at September 15, 2017.
As part of this first addendum, Arista Capital paid the Company a non-refundable deposit of $15,000 and was entitled to extend the closing date at intervals of thirty days after payment of an additional non-refundable deposit of $10,000 for each renewal interval requested. In November 2017, Arista Capital paid the company an additional non-refundable deposit of $10,000. The closing took place on December 14, 2017. At closing, Arista Capital paid the Company $72,500, which was used to settle all outstanding liabilities of Praco. The buyer and seller or landlord and tenant negotiate the terms of an agreement and the amount required as a deposit. Depending on the terms of the contract, the deposit can be refunded upon performance of the contract by the payer or at the end of the tenant`s lease. As of September 14, the Company had received retail orders for 579 SOLO and 102 retail Tofinos, with the remaining order volume of each product being enterprise orders.* All SOLO retail orders require a refundable deposit of $250, while Tofino orders require a refundable deposit of $1,000. Company orders require a letter of intent and all orders are non-binding.
4. We acknowledge your disclosure that some of your developer customers require you to make an upfront payment and a refundable deposit. Please revise to describe these deposits in more detail, when you will be entitled to a refund of these deposits and how these deposits will affect your transaction. Download this template in the file version you want to work with using the links or buttons on this page. Note that the deposit receipt can be developed as a “PDF”, “Word” or “ODT” file. After the conclusion and signing of an agreement, a deposit will be paid. At the end of the payment, a deposit receipt must be presented to the payer, especially for cash payments, proving that the money has been successfully delivered. Most agreements have a period of between one (1) and five (5) business days before the deposit is paid, or the agreement is considered invalid. 4.1 Refundable Deposit. The Company and the Consultant acknowledge and agree that (i) a refundable deposit of $25,000 must be made by the Company and held by the Consultant until the termination or expiration of this Management Consulting Agreement; (ii) the short-term consulting contract requires a similar refundable deposit of $25,000 paid by the Corporation and now held by the advisor (the “existing deposit”); and (iii) the existing deposit will be deemed to be the execution of the refundable deposit request under this Agreement, will be held by the Advisor in accordance with this Section 4 and will be refunded to the Company as provided herein.
The Consultant will refund the deposit to the Company immediately after the termination or expiration of this Agreement. In September 2015, the company entered into a three-year lease with a base monthly rent of $11 to move its headquarters to Los Altos, California. At the end of the lease, the company paid a refundable deposit of $50. Due to the company`s strategic transformation, the company plans to prematurely terminate its lease for offices in Los Altos, California. Under the terms of the lease, the Company will repay six months of lease obligations in advance and forfeit its repayable down payment of $50. The Company expects to settle this lease obligation totalling approximately $118, including the repayable down payment, in the year ended June 30, 2017. The payer is obliged to fulfil his obligations in relation to the deposit. Whether it is the purchase of a product, a service or a rental property, the payer`s obligations must be fulfilled, as the deposit will probably not be refunded. A deposit receipt is issued to a payer after receipt of the funds, with payment of the balance to be made at a later date. The deposit represents the good faith of the payer with the intention of paying the full amount due for the goods or services at a later date. The deposit, also known as a “deposit”, can be refunded depending on the conditions.
A down payment is a part of a total payment or guarantee that is placed and demonstrates a good faith effort to commit to and pursue an agreement or purchase. For the purchase, e.B. of an automobile, a down payment is usually made to keep the vehicle so that the dealer does not sell the car to someone else. For the owners, a deposit will be withheld until the end of the lease with the return of the rental contract if there is no damage to the property. “I found it very easy to use. It allows me to work fast, get something out of my head and go out in public. Specify the last calendar date on which the amount due by the payer is on the last empty line (after the word “. Owing. »). The “Deposit Value” section will attempt to define the amount received and how that money was submitted. First, find the two spaces in the instruction that are marked with the phrase “This receipt is for…” Next, write down the exact dollar amount you received from the payer on the first line. In the second line in parentheses, you need to enter the same amount numerically. Under this explanation, you can use three checkboxes to quickly enter how the payment was received.
If it was received as a “cheque” or “money”, check one of the appropriate boxes. However, if the payer submitted this money in a “different” way, check the third box and enter this method in the space provided. This option is also useful if the payer has submitted more than one payment method. The “Deposit Type” section also requires some attention. Describe the purpose for which the payer submitted the above amount to the recipient in the blank line attached to the phrase “The deposit is for”. Be sure to indicate below whether the amount received is “Refundable” or “Non-Refundable” by checking the appropriate box on the next line. The last sentence of this section also contains some areas that require your input to apply its language to this document. First, note the dollar amount that the payer still owes by placing the first two blank lines after the words “. The balance due is. This material must be provided by writing it on the first part and producing it digitally on the second field. The party that received the funds in question from the payer must certify this document by signature. Therefore, the recipient must find and sign the “Authorized Signature” line. Once this task is complete, the printed version of his name must appear in the “Name of the representative” field and the position he holds with the company receiving these funds must appear in the “Title” line.
For the purpose of these documents, it is essential that we verify when the declared money was received by the beneficiary. The first empty line, “Date,” gives us a place to do it. The full name of the payer should also be included in those documents. Enter their full name in the “Receipt from” line in this part of the receipt. Next, you create the payer`s full address for that document with the following two blank lines. Create document automations that allow you, your employees and customers to automatically fill out contract templates. 4 – This receipt must be authorized by the recipient. .