Another alternative would be that you wouldn't have to pay the punitive sum if you put up security for the amount that it is said to be. There are various ways to do it.
However, in terms of just having this penalty, remember, it's a minimum of three times. The judge can't go below three times. The minimum is three times, up to 10 times. Just to have that there is a cudgel for one side, and in my submission, is just unfair.