Forfeiture Penalty (Sugar)

Business / Agriculture / Forfeiture Penalty (Sugar): A penalty paid to the Commodity Credit Corporation by a processor of sugar beets or sugarcane who, having taken out a nonrecourse loan, decides to hand over sugar pledged as collateral to the CCC rather than accept the then-market price (see loan forfeiture). The penalty is 1 cent/lb. On raw cane sugar, 1.072 cents/lb. On refined beet sugar. Some view this penalty as lowering the price support levels authorized by the FAIR Act of 1996 by the penalty amount (i.e., for raw cane sugar, from 18 cents/lb. To 17 cents/lb.).

Other Words for Penalty

Penalty Adjective Synonyms: punishment, discipline, penance, sentence, forfeit, fine, handicap, price, mulct, amercement, imprisonment, incarceration

Penalty Box Assistant

Entertainment / Ice Hockey / Penalty Box Assistant: This is an off-ice official who is in charge of allowing players back on the ice after they have finished serving their penalty. MORE

Penalty clause

Business / Construction / Penalty clause : A provision in a contract that provides for a reduction in the amount otherwise payable under a contract to a contractor as a penalty for failure to meet deadlines or for failure of the project to mee MORE

Penalty Box

Entertainment / Ice Hockey / Penalty Box: The penalty box (sometimes called the sin bin or bin) is the area where a player sits to serve the time of a given penalty, for an offense not severe enough to merit outright expulsion from the contes MORE