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
Securities Act of 1933
Sarbanes-Oxley Act of 2002 (SOX)
Insider Trading Sanctions Act of 1984
early withdrawal
See All Related Terms »

accommodation trading
classification of assets
cash in on
indexed currency borrowings
inclusive