Meaning of “caution money” in the English Dictionary

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"caution money" in Business English

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caution moneynoun [ U ]

uk us

LAW an amount of money that someone has to pay when they rent property, use a service, etc. which will not be returned if they damage something or owe money at the end of their contract:

Each new student is required to pay a deposit of $300 as caution money on first registration.

(Definition of “caution money” from the Cambridge Business English Dictionary © Cambridge University Press)