liquidated damages(in a written agreement, a sum of money that one person, organization, etc. will pay to the other if the agreement is broken: "He agreed to pay liquidated damages of nearly $1.4 million. CBED Alexander Demidov)
late charge(A charge levied on an account for a payment that is either made late, or is not made. The amount of the late charge is determined by the financial institution. Read more: investorwords.comAlexander Demidov)
