liquidated damages
B2CEFR level
80/100Rarity: very rare
TechnicalRegister
Law noun
A sum fixed in advance as the agreed measure of loss for a specified breach.
Late delivery triggers liquidated damages of five thousand a day, capped at the contract price.
Business noun
A sum fixed in advance as the compensation payable if a party breaches the contract.
The construction contract set liquidated damages for every week of delay past handover.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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