penalty
noun
  1. a punishment, often a fine, which is imposed if something is not done or is done incorrectly or illegally

  2. an arbitrary pre-arranged sum that becomes payable if one party breaks a term of a contract or an undertaking. The most common penalty is a high rate of interest on an unauthorised overdraft.

Browse by Subjects
Insider Trading Sanctions Act of 1984
Corporate and Criminal Fraud Accountability Act
gun-jumping
early withdrawal
time deposit
See All Related Terms »

Reverse calendar spread
separate
Black Tuesday
full-service brokerage
overtime pay