Booking Amount

A booking amount is an initial payment made to reserve a property or property unit, particularly in development projects. Payment of a booking amount may indicate the buyer's intention to proceed, but its legal effect depends on the agreement and applicable terms. It should not automatically be assumed that the payment itself creates complete ownership rights. Buyers should obtain written documentation identifying the property, payment amount, refund conditions, installment schedule, and other applicable terms before paying a booking amount.

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