/ˈpiːnəl sʌm/ – Phrase
Definition: số tiền phạt.
A more thorough explanation: The legal English definition of the term “penal sum” refers to the maximum amount of money that a party to a contract or bond may be required to pay in the event of a breach of the terms of the agreement. It serves as a form of security or guarantee for the performance of the obligations under the contract or bond. If a breach occurs, the penal sum represents the maximum liability that the breaching party may be required to pay to the other party as compensation.
Example: The penal sum of the performance bond was set at $100,000 to ensure that the contractor completed the project according to the agreed-upon terms.