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Earnest money deposit (zadatek)

An amount paid when the preliminary agreement is concluded, which secures its performance. If the sale goes ahead, the deposit is counted towards the price.

If the agreement is not performed through the buyer's fault, the seller may keep the deposit. If the seller is at fault, the buyer may demand repayment of double the deposit. These consequences are provided for by the Civil Code, unless the parties have agreed otherwise.

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These definitions are for information only and describe the law in simplified form — they are not legal, tax or financial advice. Lendean is not a credit intermediary. Always confirm the details in your contract, with a notary or with the bank.

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