Assertion: forfeit | /r/UsedFor | refer to the requirement
Facets:
value: by the defaulting party
type: OTHER
value: under the terms of a contract
type: OTHER
Source sentences:
text: Forfeiture, under the terms of a contract, refers to the requirement by the defaulting party to give up ownership of an asset, or cash flows from an asset, as compensation for the resulting losses to the other party.