termination fee
[tɜːrmɪˈneɪʃən fiː]
nounpl: termination fees
taxa de rescisão
1. A charge or penalty imposed when a contract, agreement, or service is ended before the agreed-upon term expires
The mobile phone contract included a termination fee of $200 if canceled within the first year.
O contrato de telefonia móvel incluía uma taxa de rescisão de R$ 1.000 se cancelado dentro do primeiro ano.
2. A fee charged by a lender or financial institution when a loan is paid off early or an account is closed prematurely
The mortgage termination fee was waived if the property was sold within five years.
A taxa de rescisão da hipoteca foi dispensada se o imóvel fosse vendido dentro de cinco anos.
3. A penalty charge in employment contracts when an employee leaves before the contract period ends
The employment agreement specified a termination fee for early departure without just cause.
O acordo de trabalho especificava uma taxa de rescisão para saída antecipada sem justa causa.
In Brazil, termination fees are common in telecommunications contracts and mortgages. Consumer protection laws (Código de Defesa do Consumidor) regulate the reasonableness of these fees. In the USA, termination fees are heavily regulated in industries like telecommunications and financial services. The term is particularly prevalent in discussions about mobile phone contracts and early loan payoff scenarios in both countries.
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