Fine plan yet to be arranged (7)
I believe the answer is:
penalty
'fine' is the definition.
(I've seen this before)
'plan yet to be arranged' is the wordplay.
'to be arranged' indicates anagramming the letters.
'plan'+'yet'='planyet'
'planyet' anagrammed gives 'PENALTY'.
(Other definitions for penalty that I've seen before include "Punishment for error (in game)" , "kick by footballer" , "Punishment; fine" , "Spot kick" , "Perhaps fine" .)