Deposit Bond

What are deposit bonds?

A deposit bond is a guarantee given by a provider in place of a cash deposit when purchasing a property, to guarantee to the Vendor that the deposit will be paid, generally at settlement.

The purchaser pays a fee to obtain the deposit bond (usually a percentage of the deposit bond amount) and it is then issued by a bank or other financial institution. A deposit bond is useful for purchaser(s) who do not have enough cash on hand to pay the deposit or are waiting on funds from another property sale, but want to quickly secure a property.

Where a deposit bond is used, the purchase price is paid in full at settlement (including the deposit) and the deposit bond will lapse or will be cancelled.

However, there are some disadvantages of using a deposit bond:-

  1. Some Vendors may not accept deposit bonds, if they are seeking an early release of the deposit.
  2. Fees and charges apply and may include an administration fee if the deposit guarantee is refunded.
  3. Can be difficult to get approval from both the provider and the Vendor.


When can you use a deposit bond?

A deposit bond is only a guarantee and not an actual exchange of money to the Vendor. A Vendor may allege breach of contract if a Purchaser uses a deposit bond instead of cash deposit or bank cheque deposit or a bank transfer. 

It is essential that you notify the seller and real estate agent in writing when you submit your offer if you want to use a deposit bond.

If you require legal advice or assistance in purchasing a property, don’t hesitate to contact us on (03) 9000 5610 or email us on 

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Divorce Frequently Asked Questions


Divorce Costs in Victoria?

The cost of a divorce lawyer in Victoria can vary depending on several factors such as the complexity of the case, the experience and reputation of the lawyer, and the amount of time required to handle the matter. On average, a divorce lawyer in Victoria can charge anywhere from $300.00 to $700.00 per hour.

In addition to the hourly fee, you may also need to pay for additional expenses such as court fees, document preparation fees, and other miscellaneous costs. It’s important to note that the total cost of a divorce in Victoria can vary greatly and can be difficult to estimate without speaking to a lawyer about your situation.

EVE Legal can assist you in your joint (amicable) divorce matter in Victoria fixed from $ 1,000.00 plus court fees of $ 990.00. You may be eligible for a reduction in the court fees.

If you wish to find our more about a sole divorce application, please contact our firm on (03) 9000 5610 for a quote specific to your circumstances.

Family Law Initial Consultation Fee?

Most lawyers bill by the hour. The lowest rate you might pay is around $300.00 per hour for a newly admitted lawyer with under two years of experience. You might spend roughly $600.00-$800.00 an hour for a principal of a law company that has a great deal of experience. If you only need one consultation with a lawyer, they may charge you their hourly rate or offer you a fixed fee that is slightly less than their hourly rate for that consultation.

At EVE Legal, we provide a 20-minutes complimentary consultation to discuss your matter.

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Commercial vs Retail Leases – Is there a difference?

If you plan to operate a business at a premise, you will have to enter into a lease with the Landlord. When considering a lease, you might notice words such as “commercial” or “retail” used together with the term “lease”. What are the differences between the two and which one applies to you?



Commercial leases apply to premises such as office spaces, industrial spaces or warehouses. These premises do not typically have retail activity.

On the other hand, retail leases apply to premises used for the sale and supply of goods or services, such as cafes or restaurants.

Retail leases are governed by the Retail Leases Act 2003 (the Act). The Act defines retail premises as premises that is used wholly or predominantly for:-

  • the sale or hire of retail goods or provision of retail services; or
  • the carrying on of a specific business or a specified kind of business that the Minister determines, based on the kind of business, tenant or lease.

Some of the key differences between a commercial lease and a retail lease includes:-



Under the Act, the Landlord has an obligation to disclose specific details about the premises to the Tenant, including but not limited to, the lettable area of the premises, allocated parking, details of head lease (if any) and estimated outgoings.

This disclosure statement must be given  by the Landlord to the Tenant at least 14 days before entering into a retail premises lease. Failure to disclose gives the Tenant the right to terminate the lease.


Costs associated with lease

Under a retail premises lease, a Landlord cannot claim from the Tenant expenses relating to the negotiation, preparation and execution of the lease or obtaining the consent of a mortgagee to the lease. The Tenant is also not liable to pay for land tax, sinking fund for the premises or capital costs.

The Tenant is also not liable to pay for outgoings unless the lease specifies the outgoings that are to be recoverable from the Tenant. However, a Landlord can claim reasonable legal costs for any assignment of the lease or a sub-lease.

Unlike a retail premises lease, the terms of a commercial lease depends on the negotiation between parties. The same safeguards afforded under the Act do not apply to a commercial lease, unless specified in the lease in accordance to the parties’ intentions. As such, commercial leases can vary from premises to premises.


Which lease applies to me?

It ultimately depends on the use of the premises and whether there is any form of buying and selling to the public on the premises.

A business premises will usually fall under retail if located in a shopping centre. The Act may also apply to premises where they are used for selling goods or services to other business, not just persons of public.

The test applied by the courts is known as “the ultimate consumer test”. Essentially, the person acquiring the goods or services is the ultimate consumer of the goods or services.

It is important that business owners understand the type of lease they are entering into with a Landlord. If you require legal advice on leases or assistance in reviewing your lease, please contact us at (03) 9000 5610 or email us at

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