Standard for Refund Process of Decoration Deposit

The premise of returning the decoration deposit is that after the house is completely renovated, the property company will return the deposit to the owner after determining that the owner has fulfilled the contract terms; However, if the owner violates the terms of the contract during the renovation, then the property has the right to deduct the corresponding deposit according to the actual situation. After the renovation of the owner, the renovation deposit shall be returned to the owner within 90 days from the date when the property management company passes the acceptance.

The function of decoration deposit: adapting to the characteristics of the construction market and the construction industry, implementing the performance bond system can enhance the trust of the construction unit in the contractor, reduce the risk of the investor and lay a good foundation for the cooperation between the two parties; Ensure the standardized market operation of bidding contractors and put an end to unreasonable low-price bidding. After the implementation of the performance bond system, if the winning contractor fails to implement the contract fees, the construction unit can choose another contractor, and the performance bond will not be returned to the original winning contractor to compensate the bidder for the loss of choosing another contractor. Maintaining the legal effect of the contract and ensuring the normal performance of the contract, the performance bond is an extremely powerful constraint condition for the bidding unit to the winning contractor, which is conducive to the effective supervision and control of the contractor by the construction unit and the supervision unit, preventing the decline of the project quality level and prompting the contractor to earnestly perform the contract; It is conducive to the integration of China's construction market with the international market. Performance bond is a common practice in the operation of international construction market. Both the World Bank Guide and ADB Guide have corresponding provisions to protect the interests of domestic investors, make China's construction market keep pace with the international market in relevant provisions, and make contributions to China's better participation in international competition.

Legal basis: Article 53 of the Regulations on Property Management.

Owners of residential properties, non-residential properties in residential quarters or non-residential properties connected with a single house shall pay special maintenance funds in accordance with relevant state regulations.

Special maintenance funds shall be owned by the owners, and shall be used exclusively for the maintenance, renewal and transformation of property parts and facilities after the expiration of the property warranty period, and shall not be used for other purposes.

Measures for the collection, use and management of special maintenance funds shall be formulated by the construction administrative department of the State Council in conjunction with the finance department of the State Council.