Deposit means that the parties to a contract agree that one party should pay a certain amount of money to the other party in advance in order to prove the establishment and guarantee the performance of the contract. It is a basic form of contract guarantee. If the party paying the deposit fails to perform the agreed obligations, it has no right to request the return of the deposit; If the party receiving the deposit fails to perform the agreed obligations, it shall double the deposit.

Reference to legal provisions:

Article 1 15 of the Contract Law stipulates that "the parties may, in accordance with the provisions of the Guarantee Law of People's Republic of China (PRC), agree that one party shall pay a deposit to the other party as security for the creditor's rights. After the debtor performs the debt, the deposit shall be used as the price or recovered. If the party paying the deposit fails to perform the agreed debt, it has no right to demand the return of the deposit; If the party receiving the deposit fails to perform the agreed debt, it shall double the deposit. "

Article 89 of the Guarantee Law stipulates that the parties may agree that one party shall pay a deposit to the other party as a guarantee for the creditor's rights. After the debtor performs, the deposit shall be set off as the price or recovered. If the party paying the deposit fails to perform the agreed obligations, it has no right to request the return of the deposit; If the party receiving the deposit fails to perform the agreed obligations, it shall double the deposit.

Article 90 stipulates that "the deposit shall be agreed in writing. The parties shall stipulate the time limit for the payment of the deposit in the deposit contract. The deposit contract shall take effect from the date when the deposit is actually paid. "