Lump Sum
Type: noun
Pronunciation: /luhmp-suhm/
Also spelled or known as: LumpSum, Lump-Sum, One-Time Payment
Plural: Lump-Sums
Related: Flat Fee
What does Lump Sum mean? A single one-time payment made in full rather than in installments for services, rights, etc.
A Lump Sum payment is a one-time amount paid for services, rights, licensing, settlements, or creative work.
Lump-sum agreements are common in music licensing and work-for-hire arrangements.
Lump Sum synonyms: One-Time Payment, Flat Payment, Single Payment
Example sentence: “The producer accepted a lump sum payment instead of future royalties.”
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