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Penalty

(Querist) 15 August 2013 This query is : Resolved 
I have two very simple questions.

1.In business contracts can we use the word 'penalty' for non performance of contracts?
2.Is the word 'penalty' reserved for use only by the state administration or the judiciary ?
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Devajyoti Barman (Expert) 15 August 2013
No, you can use those words, There is no monopoly of ant state agency in suing this word.
Rajendra K Goyal (Expert) 15 August 2013
You can use the word.
Raj Kumar Makkad (Expert) 15 August 2013
Penalty is a common word which can even be used for commercial contracts.

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