# SAMPLE COMMERCIAL RENT DEPOSIT DEED
Date: 18 March 2029
Parties: Cedar Quays Limited, Northmere Foods Limited and Northbank Bank plc
## 1. Parties and purpose
This deed records the £24,000 rent deposit provided by Northmere Foods Limited to Cedar Quays Limited for Unit 7, Canal Wharf, Leeds LS10 1AB under the lease dated 1 April 2024. Northbank Bank plc holds the deposit account as stakeholder.
## 2. Consideration and rights
Cedar may withdraw only to satisfy rent, service charge, insurance, repair or other sums properly due under the lease after giving a written statement. It must credit payments and keep a reasonable account of each withdrawal.
## 3. Covenants and conditions
Northmere must restore the deposit to £24,000 within ten business days after notice of a permitted withdrawal. It may dispute a withdrawal in writing without preventing Cedar from pursuing an undisputed sum.
## 4. Management and liability
The deposit is security, not advance rent, and Northmere receives no right to occupy or control the account. Interest belongs to Northmere after bank charges unless the lease expressly provides otherwise.
## 5. Term and remedies
On expiry or lawful termination, Cedar will return the balance within 20 business days after confirming vacant possession, final accounts and any outstanding claim. It must not retain money merely as a penalty.
## 6. Legal reservations
The deed does not exclude statutory rights, the lease's dispute procedure or the court's jurisdiction. A payment made under protest is credited without being an admission of liability.
## 7. Execution as a deed
The parties execute this deed on 18 March 2029. Each company signs through authorised signatories before witnesses where required, and England and Wales law governs the security arrangement.