deposit to secure a place

**ladybug** · 10-10-2010, 01:38 PM

Hi all feel a bit of a div asking this! but....have been asked to hold a place open until mid Jan and parents have left me with a deposit cheque, do I bank it or just keep hold of it???

**loocyloo** · 10-10-2010, 01:42 PM

i would bank it! then refund the money whenever you have agreed to refund!

i refund all deposits in final months fees!

**ladybug** · 10-10-2010, 01:44 PM

that makes sense!!! thank you!!! I have never taken a deposit before, but mum had been let down and baby not even born yet so she didnt want anymore stress, more to ease her mind that I will keep the space open, although I have since had more enquiries and am now in need of an assistant!!

**grindal** · 10-10-2010, 04:21 PM

I did not think you could take a deposit for an unborn baby? If so, I would not cash it until the baby has been born - but maybe let mum know if you intend to do this.

**loocyloo** · 10-10-2010, 06:20 PM

i agree, i don't take deposits or retainers for unborn babes, so probably wouldn't cash it that instance.

maybe just hold onto it in good faith until babe is born.

tricky one.
xxx

**Millenium** · 11-10-2010, 07:21 AM

You can take a deposit and set up a contract a contract for a baby yet to be born. However, I fully understand the great concerns about doing so.

I needed to take legal advice on this issue a couple of years ago and was advised that the contract is of course with the parent and the baby is simply the subject of the contract. It was explained to me in rather "harsh" terms and whilst this is a human life we are talking about, the lawyer said that people take out contracts for things that aren't yet made or built such has houses bought off plan etc.

It was all a bit too ruthless for me and in the end, I did not offer the parent a contract until the baby was born but it was an interesting lesson.

Whatever I receive a cheque for, I always bank it immediately. If the person who gave you the cheque is "expecting" the money to come out of their account and it doesn't clear for some weeks, it might cause a bit of a hiccup with their budgetting especially if it is a high value cheque.

**ladybug** · 11-10-2010, 12:24 PM

well baby was born yesterday!!!! so I can avoid the cashing the cheque without the baby being born, although she was full term and tiny and has some complications, so now.......I am not sure!