Taylor Swift and Travis Kelce's Wedding NDA Lacks Penalties for Guests

Taylor Swift and Travis Kelce's NDA for wedding guests may look intimidating ... but TMZ has learned it doesn't have much bite, because guests who violate it won't face any obvious financial punishment.

Sources with direct knowledge tell TMZ ... the electronic non-disclosure agreement sent to guests does not include a monetary penalty -- or any other punishment for that matter -- if one dared to violate the agreement.

We're also told there's no film release attached, meaning guests weren't asked to sign away their rights to appear on camera -- making a wedding streaming special or documentary seem pretty unlikely.

As TMZ first reported ... between 1,100 and 1,200 guests are expected at Madison Square Garden July 3 to celebrate the couple tying the knot.

The NDA is just one piece of an elaborate security plan.

We broke the story ... Taylor and Travis individually watermarked every invitation with each guest's first and last name repeated throughout, making it easy to trace any invite that ends up online.

While letting details slip won't cost ya any cash, there is the threat of public shaming from other guests or the possibility of being uninvited.

Invitations also listed only "New York City" and the July 3 date -- not Madison Square Garden -- keeping the exact venue under wraps.

As we reported, a permit was filed with New York City to close streets surrounding Madison Square Garden from July 2 through midday July 4 for festivities tied to a July 3 event.