Definition, Meaning & Synonyms
penalty-fee
noun
/ˈpɛnəlti fiː/
Definition
A charge imposed on an individual or organization for violating a term of an agreement or rule.
Examples
- If you fail to return the book on time, you will incur a penalty-fee.
- Many subscription services have a penalty-fee for early cancellation.
- They added a penalty-fee to the invoice due to the late payment.
Meaning
A penalty-fee is a monetary charge that is typically applied when a certain condition is breached, such as late payment or cancellation of a service.
Synonyms
- late fee
- fine
- charge
- additional fee
