security deposit

security deposit definition - business

security deposit

A required payment by a lessee to a lessor, generally at the beginning of a lease. The deposit helps guarantee that the lease will not be violated and the leased property (vehicle, apartment, house) will be in acceptable condition at the end of the lease.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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