tiktok���˰�

The Non-Refundable Deposit Agreement is a crucial document used in Malaysian business transactions where one party wishes to secure a commitment from another party through a non-returnable deposit. This agreement type is commonly utilized in property purchases, service contracts, and large-scale commercial transactions within Malaysia. The document must comply with Malaysian contract law principles and should clearly articulate the non-refundable nature of the deposit to prevent future disputes. It typically includes specific details about the deposit amount, payment terms, the circumstances under which the deposit becomes non-refundable, and its relationship to the main transaction. The agreement is particularly important in high-value transactions where parties need to demonstrate serious intent and commitment.

1. Parties: Identifies and defines the parties to the agreement, including their full legal names, addresses, and any registration numbers for companies

2. Background: Sets out the context of the agreement, including the purpose of the deposit and the intended transaction it relates to

3. Definitions: Defines key terms used throughout the agreement

4. Deposit Amount and Payment: Specifies the deposit amount, payment method, and timing of payment

5. Non-Refundable Nature: Clearly states and explains the non-refundable nature of the deposit and circumstances under which this applies

6. Purpose of Deposit: Details what the deposit is securing and how it relates to the main transaction

7. Main Transaction Terms: Outlines the key terms of the transaction the deposit is securing

8. Representations and Warranties: Standard representations and warranties from both parties

9. Termination: Circumstances under which the agreement can be terminated

10. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and establishes jurisdiction for disputes