Definition, Meaning & Synonyms
capping-fee
Noun
/ˈkæp.ɪŋ fiː/
Definition
A capping fee refers to a limit on the amount of money that can be charged for a particular service or product, ensuring that costs do not exceed a specified amount.
Examples
- The capping fee for the consultancy services ensured that we stayed within our budget.
- Under the contract, there is a capping fee that limits the maximum charge for emergency repairs.
Meaning
Capping fees are commonly used in financial agreements or service contracts to protect clients from unexpectedly high expenses.
Synonyms
- Limit fee
- Maximum charge
- Fee cap
