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
time deposit
Corporate and Criminal Fraud Accountability Act
Insider Trading Sanctions Act of 1984
golden handcuffs
Securities Act of 1933
See All Related Terms »

offshore financial centre
investment grant
operating profit
accruals
dual currency bond