Dictionary
lump sum
a payment in a single sum
Interest-only loans involve the borrower paying the debt by paying interest regularly and then repaying the principal in one lump sum on the maturity date of the loan.
Phrase Bank
- The company paid a lump sum to each employee who was made redundant=(lose your job).
- Under the insurance policy the cash may be paid in monthly payments or a lump sum.
- The purchase price shall be paid in one lump sum on the date of signing.