What are the DPS custodial terms and conditions?

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The DPS (Deposit Protection Scheme) collects deposits paid to landlords and stores them on their behalf. After taking a deposit from a tenant, a landlord must store it within 30 days. At the end of the tenancy, the landlord and tenant agree on how much is owed back to the tenant, and the money is accordingly allocated back. If there is a dispute as to how much is owed back, then this is handled by the dispute resolution service unless otherwise stipulated.

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