penalty
noun [ C ]
uk/ˈpenəlti/ usplural penalties FINANCE, LAW
an amount of money that someone is forced to pay for failing to obey a rule, law, etc.:
Taxpayers who do not send in their tax return by the deadline will pay a £100 penalty.
exit/early-withdrawal/fixed penalty Savers who try to cash in their bonds in the first five years will usually face fixed penalty charges.
impose/introduce a penalty Regulators prevented the broadband operator from imposing a penalty on customers defecting to other providers.
without penalty Withdrawals can be made without penalty as long as 50 days' notice is given.
face/incur a penalty
financial/hefty/stiff penalties
LAW
a punishment for failing to obey a rule or law:
Second-degree murder carries a maximum penalty of life imprisonment.
abolish/oppose/seek the death penalty Several US states have considered bills that would abolish the death penalty.
See also
surrender penalty