Meaning penalty clause
What does penalty clause mean? Here you find 12 meanings of the word penalty clause. You can also add a definition of penalty clause yourself

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penalty clause


A clause in a contract that provides for a reduction in the amount otherwise payable under the contract to a contractor as a penalty for his/her failure to meet deadlines or the project's contrac [..]
Source: nachi.org

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penalty clause


A clause in a contract which states that a specified sum of money must be paid by the party who breaks the contract.
Source: businessballs.com

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penalty clause


A clause in a contract that seeks to punish one party for breaching the agreement.  Remedies for breach of contract seek to restore parties to where they would have been had the breach not taken place [..]
Source: cips.org

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penalty clause


A contract clause that imposes an excessive monetary penalty in the event a party defaults. Courts generally don't enforce penalty clauses when the amount imposed is unrelated to the damages incu [..]
Source: nolo.com

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penalty clause


1 : a clause (as in a contract) that calls for a penalty to be paid or suffered by a party under specified terms (as in the event of a breach) and that is usually unenforceable NOTE: A penalty clause [..]
Source: dictionary.findlaw.com

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penalty clause


Penalty clause is a contractual provision that provides for payment of an amount as forfeiture on breach of the contractual provisions. Usually the amount will be unrelated to the actual harm suffered [..]
Source: definitions.uslegal.com

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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.
Source: homebuildingmanual.com (offline)

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penalty clause


A fixed periodic amount payable as a sanction for delays or substandard performance under a contract.
Source: pppknowledgelab.org

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penalty clause


Clause attached to an agreement to stipulate penalty for infringement or non-fulfilment, so making it binding.
Source: crewtraffic.com

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penalty clause


The wording in the contract that outlines the penalties if areas of the contract are not adhered to.
Source: bdma.org.uk

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penalty clause


An agreement in a contract to pay a sum of money if there is a breach of contract.
Source: lawmentor.co.uk (offline)

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penalty clause


A clause found in contract agreements that provides for a penalty in the event of default.
Source: people.duke.edu





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