¶¶Òõ¶ÌÊÓƵ

All Countries
Banking
Good Faith Deposit Contract

Good Faith Deposit Contract Template for Pakistan

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Good Faith Deposit Contract

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Good Faith Deposit Contract

"I need a Good Faith Deposit Contract under Pakistani law for a real estate development project in Lahore, where the deposit amount is PKR 10 million and needs to include Islamic banking compliance provisions."

Celebrated by
Collaborations with
Investors
Document background
The Good Faith Deposit Contract is utilized in Pakistan when parties need to establish trust and commitment in significant transactions. It serves as a security mechanism where one party deposits funds to demonstrate serious intent to proceed with a larger transaction. Common in real estate, commercial deals, and major procurement activities, this document outlines the deposit amount, holding mechanism, and conditions for release or forfeiture. The contract must comply with Pakistani law, including the Contract Act 1872 and financial regulations, while often considering Islamic banking principles. It provides protection for both the depositor and recipient by clearly defining rights, obligations, and procedures for handling the deposit. This type of agreement is particularly important in the Pakistani business context where formal commitment mechanisms are essential for building trust in commercial relationships.
Suggested Sections

1. Parties: Identification and details of the depositor and recipient/trustee of the good faith deposit

2. Background: Context of the transaction and purpose of the good faith deposit

3. Definitions: Key terms used throughout the agreement

4. Deposit Amount and Payment Terms: Specification of the deposit amount, currency, and payment method

5. Purpose of Deposit: Clear statement of what the deposit is securing or guaranteeing

6. Holding of Deposit: Details of how and where the deposit will be held, including any escrow arrangements

7. Release Conditions: Conditions under which the deposit will be released to either party

8. Forfeiture Conditions: Circumstances under which the deposit may be forfeited

9. Representations and Warranties: Basic statements of fact and promises by both parties

10. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction

11. Notices: How formal communications between parties should be made

12. Entire Agreement: Standard clause confirming this document represents the complete agreement between parties

Optional Sections

1. Shariah Compliance: Section declaring compliance with Islamic banking principles, required if parties wish to ensure Islamic banking compliance

2. Interest Provisions: Terms regarding any interest earned on the deposit, if applicable and not operating under Islamic banking principles

3. Tax Provisions: Handling of any tax implications of the deposit, if relevant to the transaction

4. Force Majeure: Provisions for unforeseen circumstances, particularly relevant for longer-term deposit arrangements

5. Dispute Resolution: Specific procedures for resolving disputes, including potential arbitration clauses

6. Assignment: Rights to assign the agreement to other parties, if such flexibility is needed

7. Confidentiality: Provisions for keeping the terms and existence of the deposit confidential, if required by the nature of the transaction

Suggested Schedules

1. Payment Schedule: Details of payment timing and methods if the deposit is to be paid in installments

2. Bank Account Details: Specific account information for the deposit, separated for easy updating if needed

3. Required Documents: List of supporting documents required for deposit release or forfeiture

4. Authorized Signatories: List of persons authorized to give instructions regarding the deposit

5. Release Procedure: Detailed step-by-step procedure for releasing the deposit

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




























Clauses




























Relevant Industries

Real Estate

Construction

Banking and Financial Services

Manufacturing

Commercial Trading

Import/Export

Infrastructure Development

Energy

Telecommunications

Professional Services

Relevant Teams

Legal

Finance

Commercial

Procurement

Real Estate

Compliance

Treasury

Risk Management

Business Development

Corporate Secretariat

Relevant Roles

Legal Counsel

Contract Manager

Finance Manager

Real Estate Manager

Procurement Manager

Commercial Director

Business Development Manager

Compliance Officer

Treasury Manager

Chief Financial Officer

Transaction Manager

Property Manager

Risk Manager

Company Secretary

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Non Refundable Agreement

A Pakistani law-compliant agreement establishing terms and conditions for non-refundable payments between parties, with clear acknowledgment and protection provisions.

find out more

6 Month Rent Agreement

A legally-compliant six-month rental agreement template for property leases in Pakistan, outlining key terms and conditions between landlord and tenant.

find out more

Sale Deposit Agreement

A Pakistani law-governed agreement that establishes terms for payment and handling of a deposit in a sale transaction, ensuring protection for both buyer and seller.

find out more

Earnest Money Contract

A Pakistani legal document establishing terms for property purchase commitment through earnest money deposit, governed by Pakistani contract law.

find out more

Earnest Deposit Agreement

A Pakistani law-compliant agreement that governs the terms and conditions of earnest money deposits in property transactions, protecting both buyer and seller interests.

find out more

Good Faith Deposit Contract

A Pakistani law-governed agreement establishing terms for a good faith deposit, including deposit amount, holding arrangements, and release conditions.

find out more

Employee Security Deposit Agreement

A Pakistani law-governed agreement establishing terms for employee security deposits, including payment, retention, and refund conditions.

find out more

Month To Month Rent Agreement

A Pakistani law-compliant month-to-month rental agreement template for establishing flexible tenancy arrangements, suitable for both residential and commercial properties.

find out more

Agreement For Security Deposit

A Pakistani law-governed agreement establishing terms and conditions for handling security deposits, including payment, maintenance, and return conditions.

find out more

6 Month Rent Contract

A legally compliant 6-month rental agreement under Pakistani law, establishing terms and conditions for temporary property lease between landlord and tenant.

find out more

Refundable Deposit Agreement

A Pakistani law-governed agreement establishing terms for payment and refund of a deposit, including payment conditions, refund processes, and mutual obligations.

find out more

Deposit Rental Agreement

A Pakistani law-governed agreement establishing terms for property rental and security deposit arrangements, including rights and obligations of landlord and tenant.

find out more

Agreement For Deposit Payment

A Pakistani law-governed agreement that establishes terms for deposit payments, including payment conditions, holding arrangements, and refund provisions.

find out more

Holding Deposit Contract

A Pakistani law-compliant agreement securing a property transaction through a holding deposit, defining terms for deposit payment, property reservation, and eventual purchase or refund.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.

Read our Privacy Policy.