Cancellation Fee
/ˌkæn.səˈleɪ.ʃən fiː/
Definitions
- (n.) A monetary charge imposed for terminating a contract or agreement before its agreed term.
The tenant was required to pay a cancellation fee when breaking the lease early.
Forms
- cancellation fee
- cancellation fees
Related terms
See also
Commentary
Cancellation fees are often specified in contracts to deter early termination and compensate for losses; clear drafting helps avoid disputes over enforceability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.