forfeit

/ˈfɔrfɪt/
noun
  1. Something that is lost or given up as a penalty for a mistake, crime, or failure to follow rules.
    • He had to pay a forfeit of $100 for breaking the lease early.
    • In the game, the loser had to sing a song as a forfeit.
    • The team had to accept the forfeit after missing the deadline.
Synonyms
verb
  1. To lose or give up something, especially as a penalty or because you cannot keep it.
    • The company forfeited its deposit when it canceled the order.
    • She forfeited her chance to win by arriving late to the race.
    • If you don't pay the fine, you will forfeit your driver's license.
Antonyms
adjective
  1. Lost or given up as a penalty.
    • His property became forfeit after he was convicted of fraud.
    • The money was declared forfeit to the state.
    • The prize was forfeit because the winner had cheated.