lump sum

Definition

A single payment for the total amount due, as opposed to a series of periodic payments.

Use lump sum in a sentence

Mr. Benton wishes to receive his insurance payout in the form of a lump sum payment so he can quickly make repairs to his shop.

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After my brother won the lottery he arranged to collect his winnings as a lump sum rather than spreading it out in installments over 30 years.

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Our company signed a contract yesterday and the contract option for payment was either so much money every 2 weeks or just 1 lump sum at the end.

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