Contractual Provision

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August 31, 2024 4 min read Definitions
Penalty Clause: Contractual Provision with Penalties for Non-Performance
Law Business Contracts Penalty Clause Contractual Provision Non-Performance Legal Terms Business Contracts
A penalty clause is a contractual provision that imposes a harsh monetary penalty for failure to perform. It is commonly used in various contractual agreements to ensure compliance and timely execution of obligations.
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