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 collection means debt collection. This expression is usually used to indicate auto-collection, which is useful payment instrument, when the…go to the dictionary >
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