The Vietnamese word "tiền cọc" is a noun that translates to "deposit" in English. It refers to a sum of money that is paid in advance as a guarantee for a service or to secure an agreement.
When you pay "tiền cọc," you are giving a certain amount of money upfront, which shows that you are committed to a transaction, such as renting a house, booking a hotel room, or purchasing an item. This money is usually held until the agreement is fulfilled or until the final payment is made.
In more complex situations, "tiền cọc" can also refer to different types of deposits, such as: - Tiền cọc bảo đảm: This means a security deposit, often used in rental agreements to cover potential damages. - Tiền cọc giữ chỗ: This means a reservation deposit, typically paid to hold a spot for an event or accommodation.