Both the deposit and the advance payment are often used in the property market. They facilitate the conclusion of various contracts and, above all, preliminary property sales contracts.
But what do they mean and what do they mean for both parties? How do they differ? What are the consequences of reserving a deposit or advance payment in a given contract? Finally, is it more profitable to use a deposit or advance payment?
These are the questions that you will find an answer to after reading the following article, which describes the importance of both these legal institutions in as concise and thorough a manner as possible.