Definition, Meaning & Synonyms

lump-sum payment

Noun

/lʌmp sʌm ˈpeɪmənt/

Definition

A single payment made at one time, instead of a series of smaller payments over time.

Examples

The contractor offered a lump-sum payment to finish the job quickly.
After years of saving, she received a lump-sum payment from her pension fund.
He chose a lump-sum payment instead of monthly installments for the car.

Meaning

A lump-sum payment refers to a significant amount of money that is paid all at once, rather than through multiple installments. This type of payment is often used in financial contexts such as settlements, retirement distributions, or large purchases.