Common use of Security Bond Clause in Contracts

Security Bond. A Security Bond is required for all Bookings and is payable as part of the Booking Amount. The Owners agree to transfer to the bank account nominated by the Guest via electronic transfer within 7 days of the end of the Booking period 100% of the Security Bond less any deductions as described below. At the conclusion of the Booking period, the Owner will inspect the Property and deduct from the Security Bond, at the Owners complete discretion, amounts relating to any damage, loss or expense incurred by the Owners.