Plain-English glossary
Early termination fee
A fee charged when a contract, lease, subscription, or service agreement ends before the stated term.
Why it matters
Early termination fees can make it expensive to leave even when the service no longer works for you.
Words to watch for
early terminationliquidated damagesremaining feescancellation fee
Plain-English example
You can leave early, but you may owe a fee or the remaining balance.