Contractual penalty

 

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.

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FROM DICTIONARY

Embossed payment card

Embossed payment card has in addition to the electro-magnetic stripe also embossing. This means that on the card are embossed the data about owner…

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