Wedding venue wants to postpone wedding from July to winter.....

Ruffle01

Actually, you are correct. I doubt it is a legal obligation. It is part of a document that explains about what constitutes fairness. So, really my initial post should have said, if the supplier is following good practice then they will not go bankrupt by returning deposit money.

Jeremy535897

Ruffle01 said:

Actually, you are correct. I doubt it is a legal obligation. It is part of a document that explains about what constitutes fairness. So, really my initial post should have said, if the supplier is following good practice then they will not go bankrupt by returning deposit money.

It may not be practical. The deposit protection scheme is logical, because it provides a fund that the landlord can access if the tenant behaves badly, but prevents it being accessed by a landlord acting badly. Most importantly, it is a safeguard for funding future potential costs. A deposit for a made to measure suit, on the other hand, may be spent on the fabric. It won't be held in a separate bank account protected from the tailor's bankruptcy.

MissSunshine

There isn’t a legal obligation for a venue to set aside deposits for future functions. 

In an ideal world it would be better to operate this way, but unfortunately some businesses may have spent the deposits on current outgoings to keep their business afloat.