Meaning of the word: Contractual penalty
Contractual penalty is a penalty that is listed directly in the contract between the client and the bank institutions. As for sanctions, the bank may require the compensation for breach of conditions and client must pay it. The purpose of the penalty is mainly preventive.back to dictionary >
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The Commission is a reward for the agreed deal, which is agreed on the basis of the agreement. For example, in the insurance industry may earn…go to the dictionary >
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