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Thanks for your patience and enquiry. I am of the view that the management company cannot go behind the agreement which was signed. They should reimburse you the amount you had agreed to. This seems to me that they do not want to pay and is simply using this as a means by which to avoid payment.
I would write to them advising of the above and advise them of your intention to bring the matter to court for breach of contract if they fail to pay.
If you intend to take the legal route ( which I think is likely to be successful) you are required to first write to the company a letter headed letter before action. In the letter you should advise of your intention to bring a claim against them, the amount being claimed and the basis for the claim. The law requires for you to give them a minimum of 14 days to attempt to settle things amicably. If they then fail to pay you may issue proceedings against them.
You may issue proceedings via the below link
You are most welcome!
Yes, my advice is based on the fact of their being a written agreement by which both of you have agreed to be bound to settle this dispute. I would therefore base my claim on a breach of contract/agreement and not necessarily on the return of the deposit.