All Countries
Banking
Reservation Deposit Agreement

Reservation Deposit Agreement Template for Philippines

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

4.6 / 5
4.8 / 5

Let's create your Reservation Deposit Agreement

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:

Reservation Deposit Agreement

"I need a Reservation Deposit Agreement for a residential condominium unit in Manila, Philippines, with a 90-day reservation period and 5% deposit of the total purchase price, where the full purchase needs to be completed by March 2025."

Celebrated by
Collaborations with
Investors
Document background
The Reservation Deposit Agreement is a crucial document in Philippine real estate transactions, serving as a preliminary contract between property developers/sellers and potential buyers. This agreement is typically used when a buyer expresses serious interest in purchasing a property but requires time to arrange financing or conduct due diligence. The document secures the property for the potential buyer through a deposit payment while establishing clear terms for the reservation period, potential conversion to sale, and possible refund conditions. It's particularly common in pre-selling arrangements for condominiums, house and lot packages, and commercial properties. The agreement must comply with Philippine real estate laws, including the Civil Code, Real Estate Service Act, and relevant consumer protection regulations. It provides legal protection for both parties by clearly defining their rights and obligations during the reservation period.
Suggested Sections

1. Parties: Identification of the property owner/developer and the prospective buyer, including complete details and addresses

2. Background: Context of the agreement, including brief description of the property and purpose of the reservation

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Specific description of the property being reserved, including exact location and characteristics

5. Reservation Deposit: Amount of deposit, payment terms, and confirmation of receipt

6. Reservation Period: Duration of the reservation and any conditions attached to it

7. Rights and Obligations: Detailed responsibilities of both parties during the reservation period

8. Conversion to Sale: Process and conditions for converting the reservation into a full sale agreement

9. Refund Provisions: Circumstances under which the deposit may be refunded or forfeited

10. Termination: Conditions and process for terminating the reservation agreement

11. Governing Law: Specification of Philippine law as governing law and jurisdiction

12. Execution: Signature blocks and execution details

Optional Sections

1. Assignment: Include when the right to assign the reservation to another party needs to be addressed

2. Force Majeure: Include when specific circumstances beyond parties' control need to be addressed

3. Broker/Agent Details: Include when a real estate broker or agent is involved in the transaction

4. Special Payment Terms: Include when there are installment payments or special payment arrangements for the deposit

5. Construction Timeline: Include for off-plan properties where construction completion is relevant to the reservation

6. Multiple Buyer Provisions: Include when there are multiple buyers making the reservation

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the property, including floor plans, lot area, and technical specifications

2. Payment Schedule: Detailed breakdown of payment terms and dates if applicable

3. Property Documents: List of relevant property documents such as title details, tax declarations, and permits

4. Buyer's Information Sheet: Detailed information about the buyer(s) including contact details and identification

5. Property Photos and Plans: Visual documentation of the property or architectural plans for off-plan properties

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Financial Services

Property Management

Residential Property

Commercial Property

Property Investment

Urban Development

Relevant Teams

Legal

Real Estate

Sales

Compliance

Business Development

Property Management

Contract Administration

Project Development

Customer Relations

Risk Management

Relevant Roles

Real Estate Developer

Property Manager

Real Estate Agent

Legal Counsel

Contract Manager

Sales Director

Business Development Manager

Property Consultant

Compliance Officer

Real Estate Broker

Transaction Manager

Project Manager

Sales Manager

Legal Manager

Real Estate Investment Manager

Industries
Civil Code of the Philippines (Republic Act No. 386): Primary law governing contracts, obligations, and property relations in the Philippines. Particularly relevant are Book IV on Obligations and Contracts, and Book V on Property Rights.
Consumer Act of the Philippines (Republic Act No. 7394): Provides protection for consumers and establishes standards of conduct for business and industry, including requirements for disclosure and fair dealing in property transactions.
Real Estate Service Act of 2009 (Republic Act No. 9646): Regulates real estate transactions and professional practice in the Philippines, including requirements for documentation and professional handling of property dealings.
National Internal Revenue Code: Governs taxation aspects of property transactions and deposits, including documentary stamp tax requirements and other applicable taxes.
Anti-Money Laundering Act of 2001 (Republic Act No. 9160): Requires proper documentation and reporting of significant financial transactions, including property-related payments and deposits.
Maceda Law (Republic Act No. 6552): Provides protection to buyers in installment transactions of real estate, including provisions for refunds and grace periods.
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 Contract

A Philippine law-governed agreement establishing non-refundable payment terms and conditions, with clear acknowledgment provisions and consumer protection compliance.

find out more

Term Deposit Agreement

A Philippine-law governed agreement establishing terms and conditions for a fixed-term deposit account between a financial institution and depositor, compliant with BSP regulations.

find out more

Hold Deposit Agreement

A Philippine law-governed agreement establishing terms for holding a deposit amount between parties, specifying conditions for deposit maintenance and release.

find out more

Security Deposit Transfer Agreement

A Philippine law-governed agreement facilitating the transfer of security deposits between property owners/landlords during ownership or management changes.

find out more

Non Refundable Payment Agreement

A Philippine law-governed agreement establishing terms for non-refundable payments between parties, including payment terms and acknowledgment of non-refundability.

find out more

Non Refundable Deposit Purchase Agreement

A Philippine law-governed agreement establishing terms for a non-refundable deposit in a purchase transaction, protecting both seller and buyer interests.

find out more

Property Deposit Agreement

A Philippine law-governed agreement establishing terms for property purchase deposits, securing buyer interest and seller commitment while ensuring regulatory compliance.

find out more

Sale Deposit Agreement

A Philippine law-governed agreement that formalizes the terms and conditions of a deposit payment in connection with a sale transaction.

find out more

Authorization Agreement For Automatic Deposits

A Philippine-law governed agreement authorizing automatic deposits between a financial institution and account holder, establishing terms for automated payment processing.

find out more

Good Faith Deposit Contract

A Philippine law-governed agreement establishing terms for a good faith deposit to demonstrate serious intent in a transaction.

find out more

Direct Deposit Agreement

A Philippine-compliant agreement establishing terms for automatic electronic fund transfers to designated bank accounts, governed by BSP regulations and local banking laws.

find out more

Reservation Deposit Agreement

A Philippine law-governed agreement that formalizes property reservation through deposit payment, setting terms for future purchase.

find out more

Agreement For Security Deposit

A Philippine law-compliant agreement establishing terms and conditions for handling security deposits in property rental arrangements, including deposit amount, maintenance, and return conditions.

find out more

Cash Deposit Agreement

A Philippine law-governed agreement establishing terms and conditions for cash deposits between a financial institution and depositor, compliant with BSP regulations.

find out more

6 Month Rent Contract

A Philippine-law compliant 6-month residential lease agreement establishing terms for property rental and tenant-landlord obligations.

find out more

Refundable Deposit Agreement

A Philippine law-governed agreement establishing terms for a refundable monetary deposit, including payment conditions and refund procedures.

find out more

Agreement For Deposit Payment

A Philippine law-governed agreement establishing terms and conditions for deposit payments, including payment terms, refund conditions, and parties' obligations.

find out more

Holding Deposit Contract

A Philippine law-compliant agreement securing a property through a holding deposit, outlining deposit terms and conditions between property owner and potential buyer/tenant.

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: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’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; Genie’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 Trust Centre for more details and real-time security updates.

Read our Privacy Policy.