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What is a Prepayment and is it refundable?

prepayment refundable
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What is a Prepayment and is it refundable?

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Prepayments are due at contract signing in the form of a check made payable to Park Place. It is applied to your bursar account as a credit which counts against your rent upon move in. Should you decide to cancel your contract prior to arrival, the prepayment is non-refundable as it applies towards contract breakage penalties.

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