Lump sum payment,
Definition of Lump sum payment:
Single large payment made all at once, in lieu of several smaller payments made at regular or infrequent intervals.
How to use Lump sum payment in a sentence?
- The lump sum payment was going to be due in ten years so the loan officer advised the homeowner of its existence.
- You may want to make a lump sum payment so that you do not have to keep making a bunch of smaller payments.
- The buyer saved additional processing fee costs on his car insurance by paying for the entire year in advance with one lump sum payment instead of making monthly payments.
Meaning of Lump sum payment & Lump sum payment Definition