1. [ noun ] (business) a penalty for a fault or mistake that involves losing or giving up something
Synonyms: forfeit

"the contract specified forfeits if the work was not completed on time"

Related terms: penalty forfeit
2. [ noun ] something that is lost or surrendered as a penalty;
Synonyms: forfeit
Related terms: loss forfeit
3. [ noun ] the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
Synonyms: sacrifice forfeit
Related terms: act sacrifice
Similar spelling:   forfeit