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English definition of “good faith money”

good faith money

noun [U]
 
 
FINANCE, STOCK MARKET money paid by an investor to a financial organization when it starts to manage their investment: When investors take a position on a commodity, they must put up good faith money before they can trade to help offset a loss.
US PROPERTY an amount of money that someone pays when they sign an agreement to buy a property, which forms part of the total payment for the property
(Definition of good faith money from the Cambridge Business English Dictionary © Cambridge University Press)
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