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.

References in periodicals archive ?
"We are also including in our proposal to penalize not only consummated act of terrorism but also including crimes like inciting to commit terrorism, recruitment to a terrorist organization, and providing material support to terrorists," Arevalo said.
Drop the ball and, again, penalize yourself one stroke.
* further penalize energy intensive industries already subject to harsh international competition and high energy taxes
"They would penalize you if they found the seal broken on the thermostatic control," said Margulies.
Observation: By adopting the use rule, the final regulations do not penalize taxpayers with dual consolidated losses--provided the losses are not used in a foreign jurisdiction.
Is it fair to penalize people who try to lead a healthy life, but have the misfortune to have a poor family history?
The Armed Forces of the Philippines is pushing to penalize any act that will glorify terrorism, as part of the bid to strengthen the country's anti-terrorism law.
The P2-billion fine imposed by the government will work to penalize the stockholders of the two companies, many of whom are innocent investors of the publicly-listed companies.
President Duterte has been urged to sign into a law a Congress-ratified bill seeking to penalize gender-based street, public spaces and online harassment.