a penalty charge in addition to the regularly scheduled payment, as of a loan, if such payment has not been made when due.
Made-up Words Said By The People In ChargeConsidering our PICs (people-in-charge) have a knack for creating their own vocabulary, especially when they are put on the spot, here's a list of the most creative "made-up words" said by leadership. Hey, we voted 'em in . . . now they can say what they want.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019