You can go back on your word if you accept the deposit and don't sign the contract. If the party paying the deposit violates the agreement, it has no right to ask the party receiving the deposit to return the deposit. If the party who collects the deposit violates the agreement, it shall double the deposit.

legal ground

Article 586 of the Civil Code 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.

Article 587

If the debtor performs the debt, the deposit shall be used as the price or recovered. If the party paying the deposit fails to perform the debt or the performance of the debt is not in conformity with the agreement, thus the purpose of the contract cannot be achieved, it has no right to request the return of the deposit; If the party receiving the deposit fails to perform the debt or the performance of the debt does not conform to the agreement, so that the purpose of the contract cannot be achieved, the deposit shall be returned twice.

Article 588

If the parties agree on both liquidated damages and deposit, when one party breaches the contract, the other party may choose to apply the liquidated damages or deposit clause.

If the deposit is not enough to make up for the losses caused by one party's breach of contract, the other party may demand compensation for the losses exceeding the deposit amount.