Housing Authority is responsible for the examination and approval of public housing transactions in the city and directly under the control of public housing. It is also responsible for the policy guidance, supervision, management, coordination and service functions of the city's self-managed house demolition, the management of the city's urban construction demolition and resettlement, the certification of the city's public housing rights, the handling of property rights and property rights change procedures, and the implementation of national, provincial and municipal guidelines, policies, laws, regulations and rules related to the real estate industry. According to Article 586 of the General Principles of Civil Law of People's Republic of China (PRC), the parties may agree that one party shall pay a deposit to the other party as a guarantee for the creditor's rights. The deposit contract is established when the deposit is actually paid. The amount of the deposit shall be agreed by the parties. However, it shall not exceed 20% of the subject matter of the main contract, and the excess shall not have the effect of deposit. If the actual amount of deposit paid is more than or less than the agreed amount, it shall be deemed as a change of the agreed amount of deposit.
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