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LSDefine
Simple English definitions for legal terms
surcharge
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A quick definition of surcharge:
Surcharge: An extra amount of money that is added to a bill or payment because it was not paid on time or because something was left out. For example, if you don't pay your bill on time, you might have to pay a surcharge. In some cases, a court might order someone to pay a surcharge if they didn't do their job properly and caused harm to someone else.
A more thorough explanation:
Definition: A surcharge is an additional amount of money charged on top of a tax, fee, or cost. It may be added because the original amount was not paid on time or as a penalty for a mistake or violation.
For example, if you don't pay your credit card bill on time, you may be charged a surcharge on top of the amount you owe. This is a penalty for not paying on time. Another example is when you buy a plane ticket and there is a fuel surcharge added to the cost. This is an additional fee to cover the cost of fuel.
In legal terms, a surcharge can also refer to a court order for a fiduciary (someone who manages money for someone else) to pay extra money to repair damages caused by a breach of their duties. For instance, if a trustee mismanages a trust and causes financial harm to the beneficiaries, the court may order them to pay a surcharge to make up for the losses.
These examples illustrate how a surcharge is an extra charge added to an existing cost or fee. It can be a penalty for not paying on time or a way to cover additional expenses. In legal terms, it can also be a way to hold someone accountable for their actions and make things right for those who were harmed.