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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Principal financial is the amount that the debtor's borrowed from the lender. The reward for providing this amount is interest for the lender, which…go to the dictionary >
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