Definition, Meaning & Synonyms

lump-sum

noun

/ˈlʌmp sʌm/

Definition

A single payment made at one time, instead of being divided into smaller payments over time.

Examples

He received a lump-sum payment for his settlement.
The contractor requested a lump-sum fee for the entire project.
Instead of monthly payments, she preferred a lump-sum payout from her insurance policy.

Meaning

The term ‘lump-sum’ refers to an amount of money that is paid all at once, rather than in multiple installments. This often applies to payments for contracts, loans, or settlements.