forfeiture

(noun) something that is lost or surrendered as a penalty;. Synonyms: forfeit.

(noun) a penalty for a fault or mistake that involves losing or giving up something. Synonyms: forfeit. Example: "The contract specified forfeits if the work was not completed on time."

(noun) the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.. Synonyms: forfeit, sacrifice.