(plural security deposits)
- An amount of money paid in advance as security against the payor's non-performance of a contractual obligation.
- The landlord demanded one month's security deposit for rent, another for damage to the apartment, and one month's rent in advance.
security deposit - Investment & Finance Definition
An amount of money that is put forth as a guarantee or protection that property will be protected or a contract fulfilled. For instance, security deposits often are made when renting property. A security deposit also may be made in order to assure that a buyer will fulfill the contract.
security deposit - Legal Definition