Down Payment

Definition

Initial payment made upon signature of the Sales and Purchase Agreement (SPA). In Thailand, the down payment typically ranges from 20% (standard off-plan projects) to 50% (luxury and foreign developer programs). It must always be held in a neutral escrow account or in the lawyer's client account to secure refund of funds in case of cancellation. For foreign buyers, the down payment must originate from a documented international transfer supported by a Foreign Exchange Transaction (FET) receipt — essential for the future Chanote transfer.