Meaning : Something that is lost or surrendered as a penalty.
Synonyms : forfeiture
Meaning : A penalty for a fault or mistake that involves losing or giving up something.
Example :
The contract specified forfeits if the work was not completed on time.
Synonyms : forfeiture
Meaning : The act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc..
Synonyms : forfeiture, sacrifice