liquidated damages

US /ˈlɪk.wɪ.deɪ.tɪd ˈdæm.ɪ.dʒɪz/
UK /ˈlɪk.wɪ.deɪ.tɪd ˈdæm.ɪ.dʒɪz/
"liquidated damages" picture
1.

손해배상액 예정, 위약금

a sum of money agreed upon by the parties at the time of their mutual assent to a contract as a genuine pre-estimate of the probable damages that would be suffered in the event of a breach

:
The contract included a clause for liquidated damages in case of late delivery.
계약에는 납기 지연 시 손해배상액 예정 조항이 포함되어 있었다.
The court upheld the liquidated damages clause as a reasonable estimate.
법원은 손해배상액 예정 조항을 합리적인 추정으로 인정했다.