forfeiture forfeiture /ˈfɔrfətʃɝ/

noun

1. The act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.  ( forfeit , forfeiture , sacrifice )
   the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
     The soldier made the ultimate sacrifice for his country.
   The soldier made the ultimate sacrifice for his country.
   
2. A penalty for a fault or mistake that involves losing or giving up something  ( forfeit , forfeiture )
   a penalty for a fault or mistake that involves losing or giving up something
    The contract specified forfeits if the work was not completed on time
   the contract specified forfeits if the work was not completed on time
   
3. Something that is lost or surrendered as a penalty  ( forfeit , forfeiture )
   something that is lost or surrendered as a penalty