charge cap

American  

[chahrj kap] / ˈtʃɑrdʒ ˈkæp /

noun

plural

charge caps

1. a limit on the amount that a person, household, or company can be required to pay for a specific good or service.

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charge-cap British  

/ ˈtʃɑːdʒˌkæp /

verb

1. (formerly in Britain) to impose on (a local authority) an upper limit on the community charge it may levy

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Other Word Forms

• charge-capping noun

Example Sentences

"That's why we welcomed the announcement by David Blake's Independent Review of Retirement Income that they are studying the case for a new charge cap on pension products offered to savers by their pension provider to replace annuities," said a Labour spokesman.

From BBC

So as the European Union’s latest roaming charge cap comes into effect July 1 just in time for the traditional summer vacation season across Europe– it couldn’t come soon enough for U.K. cellphone users.

From The Wall Street Journal

The confirmation of a charge cap comes on the same day as giving people more access to their pension savings on retirement.

From BBC

"The argument in favour of introducing a charge cap now was poorly made," it said, adding that the assessment of the impact of the plan was "botched".

From BBC

The scheme has a charge cap of 1.5%, so providers will only be able to levy a 75p fee for operating the account.

From The Guardian