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LUMP SUM definition: 1. an amount of money that is paid in one large amount on one occasion: 2. an amount of money that…. Learn more.
Jun 18, 2024 · The meaning of LUMP SUM is an amount of money that is paid at one time : a single sum of money. How to use lump sum in a sentence.
Jun 24, 2024 · Lump-sum payments can describe a bulk payment to acquire a group of items, such as a company paying one sum for the inventory of another business. Lottery winners will also typically have the...
Tax treatment of lump sum payments given to employees including death gratuities, gratuities for X years of service, retrenchment payments and retirement benefits.
A lump sum is a single payment of money, as opposed to a series of payments made over time (such as an annuity). [1] [2] [3] [4] The United States Department of Housing and Urban Development distinguishes between " price analysis " and " cost analysis " by whether the decision maker compares lump sum amounts, or subjects contract ...
an amount of money that is paid in one large payment on one occasion: She received a lump sum of €70,507 when she retired. be paid/taken as a lump sum The entire amount can be taken as a lump sum. If the pension is small, it may be paid as a one-off lump sum payment at age 65.
Apr 12, 2021 · Under a lump sum agreement, project owners must provide contractors with finalized plans and thorough documentation, resulting in specific, linear project tasks. Lump sum contracts also require less paperwork, management and accounting, decreasing administrative costs.
A lump sum is an amount of money that is paid as a large amount on a single occasion rather than as smaller amounts on several separate occasions. They were given a tax-free lump sum at retirement age.
Lump sum definition: a relatively large sum of money, paid at one time, esp in cash. See examples of LUMP SUM used in a sentence.
Dec 7, 2022 · A lump sum payment is single payment of a sum of money. Lump sums are generally used for retirement plans, inheritances and even lottery payouts. For instance, if you’ve got an IRA, you may choose to abandon a monthly payment to receive the full earnings from the retirement account.
