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penalty |
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penalty A payment required as a result of breaking the law or sometimes for breaching the terms of a contract. Most contract drafters assiduously avoid the term because private penalties are not enforceable. Instead, contract drafters use the terms liquidated damages, delay payments, or late fees.Even the prepayment penalty is really not a penalty but compensation to a lender for the loss of income suffered when a loan is paid off earlier than the terms allow. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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PEFCO PEG PEG Ratio Pegged Exchange Rate Pegging PEN Penalties penalty Penalty Bid Penalty clause Penalty for Underpayment of Estimated Tax penalty plan Penalty tax pencil out penetration |
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