(いやくきん)

いやくきん
noun
penalty fee; cancellation fee
finance
1. penalty fee; cancellation fee
A fee charged when breaking or canceling a contract before its term ends, common with phone contracts, gym memberships, and rental agreements.
違約金(いやくきん)いくらです
How much is the cancellation fee?
If you cancel early, there's a penalty fee.
2年(にねん)(しば)契約(けいやく)違約金(いやくきん)(たか)かった
The penalty fee was high because of the two-year contract.

違約金(いやくきん) is common in Japanese service contracts. Phone contracts traditionally had 2-year terms (2年(にねん)(しば)) with significant cancellation fees, though regulations have changed to reduce these.

Common collocations

Related words