penalty clauses

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Definition of penalty clauses in English English dictionary
penalty clause: Clause in a countertrade contract that specifies sanctions against one or both signatories of the contract in the event of nonperformance on contractual obligations
penalty clause: A provision in a contract that provides for a reduction in the amount otherwise payable under a contract to a contractor as a penalty for failure to meet deadlines or for failure of the project to meet contract specifications
penalty clause: the part of a contract which says what someone will have to pay or do if they do not obey the agreement, for example if they do not complete work on time
penalty clause: A clause found in contract agreements that provides for a penalty in the event of default

penalty clauses

Hyphenation

pen·al·ty clauses

penılti klôzız

/ˈpenəltē ˈklôzəz/ /ˈpɛnəltiː ˈklɔːzəz/

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