binder
Definition
Written preliminary agreement between a buyer and a seller, usually secured by a down payment. It often specifies that, in case the buyer changes mind or is unable to arrange required amount before the stated deadline, the down payment will be forfeited by the seller.
binder is in the Agreements & Contracts and Real Estate & Buildings subjects.
binder appears in the definitions of the following terms: composite material, corporate kit, minute book, paint and ledger
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