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
early withdrawal
Securities Act of 1933
Economic Sanctions
certificate of deposit (CD)
gun-jumping
See All Related Terms »

defer
bull spread
corporate plan
pure competition
warrantor